On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $35,000 in cash and giving a short-term note for $247,000. Legal fees paid were $1,315, delinquent taxes assumed were $12,000, and fees paid to remove an old building from the land were $17,700. Materials salvaged from the demolition of the building were sold for $4,200. A contractor was paid $857,300 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet

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.