1. Convert gallons to quarts:

* There are 4 quarts in 1 gallon.

* You have 12 gallons, so you have 12 gallons * 4 quarts/gallon = 48 quarts.

2. Calculate the price per quart:

* Divide the total price by the number of quarts: $37.20 / 48 quarts = $0.775 per quart.

Answer: One quart of ice cream will cost $0.775.