An asset is purchased on January 1 for $43,700. It is expected to have a useful life of five years after which it will have an expected residual value of $5,800. The company uses the straight-line method. If it is sold for $31,600 exactly two years after it is purchased, the company will record a: A. loss of $3,060 B. gain of $3,060 C. gain of $9,040. D. loss of $9,040.

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.