Concord Corp. 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:
2,140 ounces of lime Kool-Drink at $.12 per ounce
58 pounds of powdered honey at $.60 per pound
81 kiwi fruit at $.50 each
100 protein tablets at $.90 each
5,800 ounces of water at $.003 per ounce
Concord estimates that 2% of the lime Kool-Drink is wasted, 20% of the powdered honey is lost, and 10% of the kiwis cannot be used.
Compute the standard cost of the ingredients for one gallon of the nutrition drink. (Round intermediate calculations and final