Hnak itzek manufactures and sells homemade wine and he, Ask an Expert

Accounting

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 50-gallon batch.

4,000 ounces of grape concentrate at $0.04 per ounce

83 pounds of granulated sugar at $0.55 per pound

88 lemons at $0.75 each

150 yeast tablets at $0.21 each

150 nutrient tablets at $0.13 each

1,500 ounces of water at $0.005 per ounce

Hank estimates that 3% of the grape concentrate is wasted, 10% of the sugar is lost, and 21% 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.)

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9799475

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - morgan jennings a geography professor invests

Question - Morgan Jennings, a geography professor, invests $99,000 in a parcel of land that is expected to increase in value by 15 percent per year for the next ten years. He will take the proceeds and provide himself wi ...

Question - selected balance sheet and income statement

Question - Selected balance sheet and income statement information for Oracle Corporation follows. (Perform the required computations from the perspective of an Oracle shareholder. $ millions May 31, 2015 May 31, 2014 Op ...

Question - cartagena corporation has net income of 281000

Question - Cartagena Corporation has net income of $281,000 for the year ended December 31, 2012 and common shares outstanding of 100,000. Cartagena Corporation did not issue or repurchase additional common shares during ...

Question - before closing the revenue and expense accounts

Question - Before closing the revenue and expense accounts for the month of June ABC Company's Retained Earnings Account had a $50,000 credit balance. ABC's Net Income for June was $20,000. ABC declared and paid a $5,000 ...

Question - nancy gives her grandson sean 20 acres of land

Question - Nancy gives her grandson, Sean, 20 acres of land. Her tax basis in the land is $25,000. Nancy's marginal tax rate for the current year is 45%; her grandson's is 25%. Its fair market value was $575,000 at the d ...

Question - stockman corp purchased 10 1000 6 bonds of

Question - Stockman Corp. purchased 10, $ 1,000 6% bonds of Energy Corporation when the market rate of interest was 14%. Interest is paid semiannually on the bonds, and the bonds will mature in six years. Using the PV fu ...

Question - earnings per share - at december 31 2016 shiga

Question - Earnings per Share - At December 31, 2016, Shiga Naoya Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,500 shares $10,750,000 Common stock, $5 par, 4,000,000 shar ...

Question household budget1create a simple household budget

Question: Household Budget 1. Create a simple household budget, including all income and expenses. There are various templates available online to help you do this. Find one that you feel comfortable with and that fits y ...

Question - a fire destroys all of the merchandise of

Question - A fire destroys all of the merchandise of Bridgeport Company on February 10, 2017. Presented below is information compiled up to the date of the fire. Inventory, January 1, 2017$395,100 Sales revenue to Februa ...

Question evaluating the purchase of an asset with various

Question: Evaluating the Purchase of an Asset with Various Capital Budgeting Methods In this activity, you will be evaluating whether you should purchase a hybrid car or its gasoline-engine counterpart. Select two car mo ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert