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Joseph Moore manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 48-gallon batch. 2,880 ounces of grape concentrate at $0.05 per ounce 51 pounds of granulated sugar at $0.30 per pound 56 lemons at $0.60 each 48 yeast tablets at $0.25 each 48 nutrient tablets at $0.20 each 2,480 ounces of water at $0.005 per ounce Joseph 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, eg. 1.25.) Standard Cost Per Gallon $ %24

Joseph Moore manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 48-gallon batch. 2,880 ounces of grape concentrate at $0.05 per ounce 51 pounds of granulated sugar at $0.30 per pound 56 lemons at $0.60 each 48 yeast tablets at $0.25 each 48 nutrient tablets at $0.20 each 2,480 ounces of water at $0.005 per ounce Joseph 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, eg. 1.25.) Standard Cost Per Gallon $ %24

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter11: Differential Analysis And Product Pricing
Section: Chapter Questions
Problem 12E: Sell or process further Dakota Coffee Company produces Columbian coffee in batches of 7,500 pounds....
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So do I times the given number by the amount per then add them up and divide by 48 to get the answer?

Current Attempt in Progress Joseph Moore manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 48-gallon batch. 2,880 ounces of grape concentrate at $0.05 per ounce 51 pounds of granulated sugar at $0.30 per pound 56 lemons at $0.60 each 48 yeast tablets at $0.25 each 48 nutrient tablets at $0.20 each 2.480 ounces of water at $0.005 per ounce Joseph 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 $
Transcribed Image Text:Current Attempt in Progress Joseph Moore manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 48-gallon batch. 2,880 ounces of grape concentrate at $0.05 per ounce 51 pounds of granulated sugar at $0.30 per pound 56 lemons at $0.60 each 48 yeast tablets at $0.25 each 48 nutrient tablets at $0.20 each 2.480 ounces of water at $0.005 per ounce Joseph 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 $
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