Exercise 11-2 Your answer is incorrect. Try again. 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 320-gallon batch 2,200 ounces of grape concentrate at $0.05 per ounce 416 pounds of granulated sugar at $0.42 per pound 576 lemons at $0.62 each 640 yeast tablets at $0.26 each 1,600 nutrient tablets at $0.15 each 2,900 ounces of water at $0.007 per ounce Hank estimates that 4% of the grape concentrate is wasted, 16% 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