Please do not give solution in image format thanku Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required forproduction of a 50-gallon batch.2,880 ounces of grape concentrate at $0.04 per ounce54 pounds of granulated sugar at $0.55 per pound60 lemons at $0.85 each250 yeast tablets at $0.29 each50 nutrient tablets at $0.14 each2,700 ounces of water at $0.005 per ounceHank estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% 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 $

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Answered: Hank Itzek manufactures and sells…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Coronado 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. 2,375 ounces of grape concentrate at $0.04 per ounce 54 pounds of granulated sugar at $0.55 per pound 60 lemons at $0.65 each 150 yeast tablets at $0.29 each 200 nutrient tablets at $0.14 each 2,800 ounces of water at $0.005 per ounce Coronado estimates that 5% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% 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 $ s
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. 3,800 ounces of grape concentrate at $0.07 per ounce 54 pounds of granulated sugar at $0.45 per pound 60 lemons at $0.70 each 150 yeast tablets at $0.28 each 200 nutrient tablets at $0.17 each 1,900 ounces of water at $0.005 per ounce Hank estimates that 5% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used.Compute the standard cost of the ingredients for one gallon of wine. Standard Cost Per Gallon $
Coronado 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. 3,360 ounces of grape concentrate at $0.02 per ounce 54 pounds of granulated sugar at $0.55 per pound 60 lemons at $0.90 each 150 yeast tablets at $0.26 each 250 nutrient tablets at $0.14 each 2.400 ounces of water at $0.005 per ounce Coronado estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% 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) O Show Transcribed Text Coronado estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% 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…
Steven Garcia manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 57-gallon batch. 3,420 ounces of grape concentrate at $0.06 per ounce 60 pounds of granulated sugar at $0.30 per pound 65 lemons at $0.60 each 57 yeast tablets at $0.25 each 57 nutrient tablets at $0.20 each 2,930 ounces of water at $0.005 per ounce Steven estimates that 5% of the grape concentrate is wasted, 12% of the sugar is lost, and 26% 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
Chris Jackson manufactures and sells homemade wine, and he wants to develop a standard cost per litre. The following are required for production of a 150-litre batch: 72.00 litres of grape concentrate at $1.35 per litre 20.25 kg of granulated sugar at $0.60 per kilogram 43.50 lemons at $0.60 each 37.50 yeast tablets at $0.25 each 37.50 nutrient tablets at $0.20 each 54.75 litres of water at $0.10 per litre Chris estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 20% of the lemons cannot be used. Calculate the standard cost of the ingredients for one litre of wine. (Round intermediate calculations and final answer to 3 decimal places, eg. 1.251.) Standard cost of the ingredients for one litre of wine
Michael Brown manufactures and sells homemade wine, and he wants to develop a standard cost per litre. The following are required for production of a 300-litre batch: 90.00 litres of grape concentrate at $1.40 per litre 40.50 kg of granulated sugar at $0.60 per kilogram 87.00 lemons at $0.60 each 72.00 yeast tablets at $0.25 each 69.00 nutrient tablets at $0.20 each 112.50 litres of water at $0.10 per litre Michael estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 20% of the lemons cannot be used. Calculate the standard cost of the ingredients for one litre of wine. (Round intermediate calculations and final answer to 3 decimal places, e.g. 1.251.) Standard cost of the ingredients for one litre of wine $
Kenneth Garcia manufactures and sells homemade wine, and he wants to develop a standard cost per litre. The following are required for production of a 350-litre batch: 168.00 litres of grape concentrate at $1.35 per litre 47.25 kg of granulated sugar at $0.60 per kilogram 101.50 lemons at $0.60 each 87.50 yeast tablets at $0.25 each 87.50 nutrient tablets at $0.20 each 133.00 litres of water at $0.10 per litre Kenneth estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 200% of the lemons cannot be used Calculate the standard cost of the ingredients for one itre of wine. (Round intermediate calculations and final answer to 3 decis es 1.251) Standard cost of the ingredients for one litre of wine
* Your answer is incorrect. 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. 2,400 ounces of grape concentrate at $0.05 per ounce 54 pounds of granulated sugar at $0.40 per pound 60 lemons at $0.60 each 100 yeast tablets at $0.26 each 250 nutrient tablets at $0.15 each 2,900 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. 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 $ 7.42
Gatorade manufactures and sells a nutrition drink for children. It wants to develop a standard cost per gallon. The following are required for production of a 100 gallon batch: 15 minutes 1,960 ounces of lime Cool-Drink at $.12 per ounce 40 pounds of 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 Gatorade estimates that 2% of the lime Kool-Drink is wasted, 20% of the sugar is lost, and 10% of the kiwis cannot be used. Instructions Compute the standard cost of the ingredients for one gallon of the nutrition drink. Please write in word
Sheridan Company wants to produce and sell a new flavored water. In order to penetrate the market, the product will have to sell at $2 per 12 oz. bottle. The following data has been collected: Annual sales 50000 bottles Projected selling and administrative costs $8500 Desired profit $62000 The target cost per bottle is $0.59. $0.24. $0.17. $0.76.
Tommy Tomato, Incorporated (TTI) sells organic canned tomato sauces. TTI spends $50,000 purchasing, cutting, washing, grinding, and straining tomatoes into 100,000 liters of plain tomato sauce ($0.50 per liter). At this point, TTI has two choices: a) sell the plain tomato sauce for $2 per liter; or b.) take the 100,000 liters of plain tomato sauce and process them further into a gourmet seasoned pizza sauce that can be sold for $3.10 per liter. The extra seasoning and processing required to convert the plain tomato sauce into gourmet pizza sauce costs TTI $0.75 per liter. TTI can choose to sell the plain tomato sauce as-is at the "split-off point" or decide to process the sauce further into the gourmet sauce. 1. If TTI sells the 100,000 liters of gourmet pizza sauce, how much sales revenue will TTI generate? If TTI decides to simply sell the 100,000 liters of plain tomato sauce without processing it any further, how much sales revenue would TTI generate instead? How much additional…
Dawson Co. produces wine. Dawson purchases empty glass bottles from an outside vendor. The company expects: Production 2,535,000 two-liter bottles of Chablis Target ending inventory 77,000 glass bottles Beginning inventory 54,000 glass bottles For simplicity, ignore breakage. Compute the number of bottles to be purchased in 2018.

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