Lilian's Bakery makes desserts for local restaurants. Each pan of gourmet bars requires 750 g flour, 125 mL chopped pecans, 60 mL cocoa, 500 g sugar, 125 ml chocolate chips, 2 eggs, and 90 mL oil. Each pan requires 10 minutes of direct labour for mixing, cutting, and packaging. Each pan must bake for 30 minutes. Restaurants purchase the gourmet bars by the pan, not by the individual serving. Each pan is currently sold for $10. Standard costs are $1.92 per bag of flour (4 kg in a bag), $8.00 per bag of pecans (1,000 mL per bag), $4.32 per tin of cocoa (750 mL per tin), $1.68 per bag of sugar (5 kg in a bag), $2.80 per bag of chocolate chips (1,000 mL per bag), $1.68 per dozen eggs, $2.16 per bottle of oil (2 L per bottle), and $0.60 for packaging materials. The standard wage rate is $12 per hour. Lilian allocates bakery overhead at $4.80 per oven hour. Requirements 1. What is the standard cost per pan of gourmet bars? 2. What is the standard gross profit per pan of gourmet bars? 3. How often should Lilian reassess her standard quantities and standard prices for inputs? Input Quantity Standard Price Standard Standard Cost of Input Flour 750 g = per kg Pecans 125 mL = per 100 mL Cocoa 60 mL per 100 mL = Sugar 500 g per kg II Chocolate chips 125 mL per 100 mL II Eggs 2 per egg = Oil 90 mL = per L Packaging 1 pkg - per package Total direct materials Direct labour 1/6 hour per hour |Bakery overhead 1/2 hour per hour Lilian's Bakery makes desserts for local restaurants. Each pan of gourmet bars requires 750 g flour, 125 mL chopped pecans, 60 mL cocoa, 500 g sugar, 125 ml chocolate chips, 2 eggs, and 90 mL oil. Each pan requires 10 minutes of direct labour for mixing, cutting, and packaging. Each pan must bake for 30 minutes. Restaurants purchase the gourmet bars by the pan, not by the individual serving. Each pan is currently sold for $10. Standard costs are $1.92 per bag of flour (4 kg in a bag), $8.00 per bag of pecans (1,000 mL per bag), $4.32 per tin of cocoa (750 mL per tin), $1.68 per bag of sugar (5 kg in a bag), $2.80 per bag of chocolate chips (1,000 mL per bag), $1.68 per dozen eggs, $2.16 per bottle of oil (2 L per bottle), and $0.60 for packaging materials. The standard wage rate is $12 per hour. Lilian allocates bakery overhead at $4.80 per oven hour. Requirements 1. What is the standard cost per pan of gourmet bars? 2. What is the standard gross profit per pan of gourmet bars? 3. How often should Lilian reassess her standard quantities and standard prices for inputs? Vuyai pei ny JUU y A Chocolate chips 125 ml X per 100 mL = Eggs 2 per egg = Oil 90 mL x per L Packaging 1 pkg per package II Total direct materials Direct labour 1/6 hour X per hour Bakery overhead 1/2 hour x per hour Total Requirement 2. What is the standard gross profit per pan of gourmet bars? (Round your answer to the nearest cent.) The gross profit per pan of gourmet bars is $ Requirement 3. How often should Lilian reassess her standard quantities and standard prices for inputs