Beanz Coffee purchases green coffee beans from various suppliers and then roasts the coffee beans in its roasting facility. (Click the icon to view the manufacturing information.) Read the requirements. More info Requirement 1. What is the standard cost of producing one 25-pound case of roasted coffee beans? First, select the formula to calculate the standard cost of input. Then calculate the standard cost of each input. Finally, calculate the tota cent.) Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead 20.00 pounds Standard quantity x Standard price Standard cost of input $ 2.50 per pound S 50.00 0.25 hours x $17.00 per hour 4.25 0.20 machine hours x $ 38.00 per hour = $ 7.60 0.20 machine hours x 5 per hour = The roasted beans are sold in 25-pound cases to grocery stores and restaurants for $65 per case. Each case of roasted coffee beans requires 20 pounds of unroasted green coffee beans. The company can purchase the green coffee beans, including freight-in and purchase discounts, for $2.50 per pound. Each case of roasted coffee beans requires 0.25 hours of direct labor in the production process. Direct laborers are paid $17 per hour, which includes payroll taxes and employee benefits. The company uses machine hours to allocate its manufacturing overhead. Each case of roasted coffee beans requires 0.20 machine hours to barest produce. The company expects to produce 500,000 cases of roasted cof" Question Viewer in the upcoming year. At this production volume, the company expects to variable manufacturing overhead to be $3,800,000 for the year. The company also expects to incur $75,000 of fixed manufacturing overhead per month, or $900,000 for the year. Requirements 1. What is the standard cost of producing one 25-pound case of roasted coffee beans? 2. What is the standard gross profit per 25-pound case of roasted coffee beans? 3. How often should the company reassess standard quantities and standard prices for inputs? Print Done