Question

Hnak Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per...

Hnak Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 60-gallon batch.

2,800 ounces of grape concentrate at $0.04 per ounce
110 pounds of granulated sugar at $0.48 per pound
115 lemons at $0.69 each
240 yeast tablets at $0.25 each
180 nutrient tablets at $0.14 each
2,700 ounces of water at $0.006 per ounce


Hank estimates that 5% of the grape concentrate is wasted, 14% of the sugar is lost, and 23% of the lemons cannot be used.

Compute the standard cost of the ingredients for one gallon of wine

Homework Answers

Answer #1
STANDARD COST SHEET
Per Batch of 60 Gallons Per Gallon
Grape concentrate = 2800*0.04/95% = $    117.89 $        1.97
Granulated sugar = 110*0.48/86% = $      61.40 $        1.02
Lemons = 115*0.69/77% = $    103.05 $        1.72
Yeast tablets = 240*0.25 = $      60.00 $        1.00
Nutrient tablets = 180*0.14 = $      25.20 $        0.42
Water = 2700*0.006 = $      16.20 $        0.27
Total standard cost $    383.74 $        6.40
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