He following balances are from the accounts of tappan parts: january 1 (beginning) december 31 (ending) direct materials inventory $ 22,500 $ 25,000 work-in-process inventory 32,800 29,100 finished goods inventory 5,400 7,100 direct materials used during the year amount to $45,700 and the cost of goods sold for the year was $53,300. required: prepare a cost of goods sold statement.

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 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% 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.