Assigned Media | E11-16A (similar to) Question Help Pamela's Bakery makes desserts for local restaurants. Each pan of gourmet biscotti requires 2 cups flour, 12 cup chopped pecans, 1i4 cup cocoa, 1 cup sugar, 112 cup chocolate chips, 3 eggs, and 13 cup oil. Each pan requires 10 minutes of direct labor for mixing, cutting, and packaging. Each pan must bake for 30 minutes. Restaurants purchase the gourmet biscotti by the pan, not by the individual serving. Each pan is currently sold for $12. Standard costs are: $1.92 per bag of flour (16 cups in a bag), $12.00 per bag of pecans (4 cups per bag), $2.T2 per tin of cocoa (2 cups per tin), S2.16 per bag of sugar (12 cups in a bag), S4.80 per bag of chocolate chips 4 cups per bag), S1.44 per dozen eggs, $2.70 per bottle of oll (10 cups per bottle), and $0.50 for packaging materials. The standard wage rate is $15 per hour. The company allocates bakery overhead at $5.10 per oven hour. Requirements 1. What is the standard cost per pan of gourmet biscotti 2. What is the standard gross profit per pan of 3. How often should the company reassess standard quantities and standard prices for inputs? gourmet biscotti? Requirement 1. Complete the following table to determine the standard cost per pan of gourmet biscotti. (Round your answers to the nearest cent.) Input Quantity standard Price standard Standard cost of input Flour 2 cups x ber cup 1/2 cup X Pecans per cup Cocoa 114 cup x per cup Sugar 1 cup X per cup x[ Chocolate chips 1/2 cup per cup Egga per egg 13 cup xper cup Oil Packaging 1 pkg x per package Total direct materials Direct labor 1/6 hourX per hour Bakery overhead 1/2 hourx per hour Total