Exercise 11-2 (Video)
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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.
3,840 ounces of grape concentrate at $0.06 per ounce |
54 pounds of granulated sugar at $0.35 per pound |
60 lemons at $0.90 each |
200 yeast tablets at $0.23 each |
50 nutrient tablets at $0.12 each |
3,400 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 | $ |
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Solution:
Ingredient | Quantity | Per unit Cost | Total Coct | Waste/ Lost (%) | Effecyive Production (%) | Total Standard Cost |
Grape Concentrate | 3840 | $0.06 | $230.40 | 4% | 96% | $240.00 |
Sugar | 54 | $0.35 | $18.90 | 10% | 90% | $21.00 |
Lemons | 60 | $0.90 | $54.00 | 25% | 75% | $72.00 |
Yeast | 200 | $0.23 | $46.00 | 100% | $46.00 | |
Nutrient Tablets | 50 | $0.12 | $6.00 | 100% | $6.00 | |
Water | 3400 | $0.005 | $17.00 | 100% | $17.00 | |
Total Standard cost of 50 Gallon Batch | $402.00 | |||||
/ gallons | 50 | |||||
Standard cost Per Gallon | $8.04 |
Exercise 11-2 (Video) Your answer is incorrect. Try again. Hank Itzek manufactures and sells homemade wine,...
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please be as clear and as simple as possible. I am trying to understand it. show me the steps, not only the answers. thank you in advance. E25-2 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...