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Compute standard materials costs 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. 3,000 ounces of grape concentrate at $0.06 per ounce 54 pounds of granulated sugar at $0.30 per pound 60 lemons at $0.60 each 50 yeast tablets at $0.25 each 50 nutrient tablets at $0.20 each 2,600 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. Instructions Compute the standard cost of the ingredients for one gallon of wine. (Carry computations to two decimal places.) NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". Standard Cost Amount per gallon Standard Waste Standard Usage Standard Price Ingredient per Gallon OZ 4% OZ Grape concentrate Sugar $0.06 0.30 lb 10% Ib Lemons 25% 0.60 Yeast 0% 0.25 Nutrient 0% 0.20 Water 0% 0.005 Standard cost for one gallon of wine