Exercise 23-2 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 20-gallon batch. 2,300 ounces of grape concentrate at $0.03 per ounce 32 pounds of granulated sugar at $0.54 per pound 37 lemons at $0.71 each 40 yeast tablets at $0.21 each 80 nutrient tablets at $0.16 each 2,400 ounces of water at $0.008 per ounce Hank estimates that 1% of the grape concentrate is wasted, 10% of the sugar is lost, and 30% 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. I.25.) Standard Cost Per Gallon 166.83