James Smith manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 40-gallon batch. 2.400 ounces of grape concentrate at $0.06 per ounce 43 pounds of granulated sugar at $0.30 per pound 48 lemons at $0.60 each 40 yeast tablets at $0,25 each 40 nutrient tablets at $0.20 each 2,080 ounces of water at $0.005 per ounce James estimates that 3% of the grape concentrate is wasted, 10% of the sugar is lost, and 24% 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, eg. 1.25.) Standard Cost Per Gallon