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Crane Itzek manufactures and sells homemade wine, and he wants to develop a standard cost...

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Accounting

Crane Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required
for production of a 50-gallon batch.
1,980 ounces of grape concentrate at $0.01 per ounce
54 pounds of granulated sugar at $0.35 per pound
60 lemons at $0.60 each
50 yeast tablets at $0.20 each
50 nutrient tablets at $0.10 each
1,200 ounces of water at $0.005 per ounce
Crane estimates that 1% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used.
Compute the standard cost of the ingredients for one gallon of wine. (Round intermediate calculations and final answer to 2 decimal places,
e.g.1.25.)
Standard Cost Per Gallon
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