Question

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

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 520-gallon batch. 3,400 ounces of grape concentrate at $0.06 per ounce 572 pounds of granulated sugar at $0.53 per pound 832 lemons at $0.80 each 2,080 yeast tablets at $0.24 each 2,080 nutrient tablets at $0.12 each 1,300 ounces of water at $0.007 per ounce Hank estimates that 5% of the grape concentrate is wasted, 14% 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

Homework Answers

Answer #1

Costs including wastage for 520 gallons:

3,400 ounces of grape concentrate at $0.06 per ounce = 3400*0.06/0.95= $214.736

572 pounds of granulated sugar at $0.53 per pound = 572 * 0.53/ 0.86 = $352.511

832 lemons at $0.80 each = 832 * 0.80 / 0.73 = $911.78

2080 yeast tablets at $0.24 each = 2080*0.24 = $499.2

2080 nutrient tablets at $0.12 each = 2080*0.12 = $249.6

1300 ounces of water at $0.007 per ounce = 1300*0.007 = $9.1

Total cost for 520 gallons = $2236.93

Cost per gallon = $4.301

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per...
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 780-gallon batch. 3,400 ounces of grape concentrate at $0.07 per ounce 1,014 pounds of granulated sugar at $0.39 per pound 1,248 lemons at $0.70 each 1,560 yeast tablets at $0.22 each 2,340 nutrient tablets at $0.14 each 2,600 ounces of water at $0.007 per ounce Hank estimates that 1% of the grape concentrate is wasted,...
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,...
Concord manufactures and sells homemade wine, and he wants to develop a standard cost per gallon....
Concord 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. 2,700 ounces of grape concentrate at $0.04 per ounce 59 pounds of granulated sugar at $0.30 per pound 60 lemons at $0.60 each 50 yeast tablets at $0.23 each 50 nutrient tablets at $0.20 each 2,400 ounces of water at $0.005 per ounce Hank estimates that 4% of the grape concentrate is wasted, 10%...
H manufactures and sells homemade wine, and he wants to develop a standard cost per gallon....
H manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 890-gallon batch. 3,400 ounces of grape concentrate at $0.04 per ounce 890 pounds of granulated sugar at $0.50 per pound 1,691 lemons at $0.76 each 3,560 yeast tablets at $0.24 each 3,560 nutrient tablets at $0.11 each 2,500 ounces of water at $0.005 per ounce H estimates that 5% of the grape concentrate is wasted, 15%...
1.Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per...
1.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 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce Hank estimates that 4% of the grape concentrate is wasted,...
KraftFoodsInc.manufactures and sells a nutrition drink for children called Kool- Aid. It wants to develop a...
KraftFoodsInc.manufactures and sells a nutrition drink for children called Kool- Aid. It wants to develop a standard cost per gallon. The following are required for production of a 100-gallon batch: • 1,960 ounces of lime Kool-Aid at $.12 per ounce • 40 pounds of granulated sugar at $.60 per pound • 63 kiwi fruit at $.50 each • 100 protein tablets at $.90 each • 4,000 ounces of water at $.003 per ounce Pane estimates that 2% of the lime...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT