Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Concord Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a
Concord 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. 3,395 ounces of grape concentrate at $0.07 per ounce 54 pounds of granulated sugar at $0.40 per pound 60 lemons at $0.80 each 250 yeast tablets at $0.20 each 100 nutrient tablets at $0.10 each 3,000 ounces of water at $0.005 per ounce Concord estimates that 3% 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.) $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started