Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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 50 -gallon batch. 2,400 ounces of grape concentrate at $0.05 per ounce 54 pounds of granulated sugar at $0.40 per pound 60 lemons at $0.60 each 100 yeast tablets at $0.26 each 250 nutrient tablets at $0.15 each 2,900 ounces of water at $0.005 per ounce Hank estimates that 4% 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.) Standard Cost Per Gallon $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

=+ (c) Show that this P is countably additive if 02 is uncountable.

Answered: 1 week ago