could you please answer the ones i got wrong. im pretty lost. ty!
Coffee Bean Incorporated (CBn processes and distributes a variety of coffee CBI buys coffee beans from around the world and roasts, blends, and packages them for resale Currently, the firm offers 15 coffees to gourmet shops in 1-pound bags. The major cost is direct materials, however, a substantial amount of factory overhead is incurred in the predominantly automated roasting and packing process. The company uses relatively little direct labor Some of the coffees are very popular and sell in large volumes, a few of the newer brands have very low volumes. CBI prices its coffee at full product cost, including allocated overhead, plus a markup of 30%. If its prices for certain coffees are significantly higher than the market. CBI lowers its prices. The company competes primarily on the quality of its products, but customers are price conscious as well Data for the current budget include factory overhead of $2,988.000, which has been allocated on the basis of each product's direct labor cost. The budgeted direct labor cost for the current year totals $598,000. The firm budgeted 55,800,000 for purchase and use of direct materials (mostly coffee beans) The budgeted direct costs for 1-pound bags of two of the company's many products are as follows: Hona Los Malaysian Direct materials $ 3.20 Direct labor 2.30 CBI's controller, Mona Clin, believes that its current product costing system could be providing misleading cost information. She has developed this analysis of the current year's budgeted factory overhead costs $.4.20 0.301 Retur Bludgeted Driver Activity Cost Oriver Consumption Budgeted cost Purchasing Purchase orders 1,130 Materials handling $ 577,000 Setups 1,780 718,000 Quality control Batches 700 142,000 Roasting Roasting hours 95,900 959.000 Blending Blending hours 33,400 334,000 Packaging Packaging hours 25,800 258,000 Total factory overhead cost $ 2,988,000 Data regarding the current year's production of just two of its lines, Mona Loa and Malaysian, follow. There is no beginning or ending direct materials inventory for either of these coffees. Hona Loa Malaysian Budgeted sales 100, 200 pounds 1,980 pounds Batch size 9,800 pounds 450 pounds Setups 3 per batch 3 per batch Purchase order size 24,300 pounds 480 pounds Roasting time 1 hour per 100 pounds 1 hour per 100 pounds Blending time 0.5 hour per 100 pounds 0.5 hour per 100 pounds Packaging time 0.1 hour per 100 pounds 0.1 hour per 100 pounds Required: 1 Using Coffee Bean Incorporated's current product costing system, a. Determine the company's predetermined overhead rate using direct labor cost as the single cost driver b. Determine the full product costs and selling prices of one pound of Mona Loa coffee and one pound of Malaysian coffee Mona Loa Coffee Malaysian Coffee $ $ 4.20 0.30 3.20 0.30 $ $ 4.50 $ 3.50 Direct unit costs: Direct materials Direct labor Indirect unit costs Purchasing Material handling Quality control Roasting Blending Packaging Total unit cost 0.02 134.46 X 0.02 10.00 X 20.00 X 1.06 134.46 X 0.42 10.00 x 20.00 X 100.00 X 100.00 $ 269.00 $ 269.44 Product costs Mona Loa Malaysian $ 5.70 X $ 4.70 X $ 7.41 X $ 6.11 X $ Budgeted selling price per pound
