Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per...
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Hank 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. 2,350 ounces of grape concentrate at $0.08 per ounce 54 pounds of granulated sugar at $0.55 per pound 60 lemons at $0.80 each 200 yeast tablets at $0.28 each 150 nutrient tablets at $0.11 each 3,200 ounces of water at $0.005 per ounce Hank estimates that 6% 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 Click if you would Ilike to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR EXERCISE Hank 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. 2,350 ounces of grape concentrate at $0.08 per ounce 54 pounds of granulated sugar at $0.55 per pound 60 lemons at $0.80 each 200 yeast tablets at $0.28 each 150 nutrient tablets at $0.11 each 3,200 ounces of water at $0.005 per ounce Hank estimates that 6% 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 Click if you would Ilike to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR EXERCISE
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Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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