Crooked Branch Coffee purchases green coffee beans from various suppliers and then roasts the coffee beans in its roasting facility.

Requirement $1.$ What is the standard cost of producing one $20-$pound case of roasted coffee beans?

Requirement $2.$ What is the standard gross profit per $20-$pound case of roasted coffee beans? $($Round your answers to the nearest cent.$)$

The gross profit per $20-$Ib case of roasted coffee is

Requirement $3.$ How often should the company reassess standard quantities and standard prices for inputs?

Since the price of coffee beans $(3)$

often, the company $(4)$

reassess standard prices often. In addition, the company $(5)$

need to reassess price standards if it finds cheaper suppliers for the ingredients.

They $(6)$

need to reassess quantity standards for the direct materials $(7)$

The company should reassess quantity standard for overhead if $(8)$

or reassess labor standards if the $(9)$

changes.

$1$: More Info

manufacturing overhead to be $$6,000,000$ for the year. The company also expects to incur $$50,000$ of fixed manufacturing overhead per month, or $$600,000$ for the year.

$2$: Requirements

What is the standard cost of producing one $20-$pound case of roasted coffee beans?

What is the standard gross profit per $20-$pound case of roasted coffee beans?

How often should the company reassess standard quantities and standard prices for inputs?