Brazen shoe company records sales returns and allowances, sales discounts, and credit card discounts as contra-revenues. july 12 sold merchandise to customer at factory store who charged the $700 purchase on her american express card. american express charges a 1 percent credit card fee. cost of goods sold was $575. july 15 sold merchandise to customer t at an invoice price of $4,500; terms 1/10, n/30. cost of goods sold was $2,250. july 20 collected cash due from customer t. july 21 before paying for the order, a customer returned shoes with an invoice price of $1,300, and cost of goods sold was $780.

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.