Exercise Il-2 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 690-gallon batch. 2,500 ounces of grape concentrate at $0.07 per ounce 1,173 pounds of granulated sugar at $0.52 per pound 690 lemons at $0.67 each 1,380 yeast tablets at $0.20 each 2,070 nutrient tablets at $0.10 each 2,400 ounces of water at $0.001 per ounce Hank estimates that 6% of the grape concentrate is wasted, 17% of the sugar is lost, and 31% 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