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 330-gallon batch. 3,400 ounces of grape concentrate at $0.02 per ounce 495 pounds of granulated sugar at $0.57 per pound 462 lemons at $0.89 each 990 yeast tablets at $0.26 each 1,650 nutrient tablets at $0.14 each 2,400 ounces of water at $0.001 per ounce Hank estimates that 4% of the grape concentrate is wasted, 12% of the sugar is lost, and 27% 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 $Entry field with incorrect answer 4.23

Exercise 25-2 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 330-gallon batch. 3,400 ounces of grape concentrate at $0.02 per ounce 495 pounds of granulated sugar at $0.57 per pound 462 lemons at $0.89 each 990 yeast tablets at $0.26 each 1,650 nutrient tablets at $0.14 each 2,400 ounces of water at $0.001 per ounce Hank estimates that 4% of the grape concentrate is wasted, 12% of the sugar is lost, and 27% 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 4.23