Mountain Peak Coffee purchases green coffee beans from various suppliers and then roasis the coffee beans in ils roasting facility. Click the icon to view the manufacturing information.) Read the requirements. Requirement 1. What is the standard cost of producing one 10-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 total standard cost of producing one 10-pound case of roasted coffee beans. (Round your answers to nearest cent) Standard coat of input Direct materials Direct labor Variable manufacturing overhead pounds hours per pound - per hour machine hours Der hour Fixed manufacturing overhead machine hours I per hour Tola! Requirement 2. What is the standard gross profit per 10-pound case of roasted coffee beans? (Round your answers to the nearest cent.) The gross profit per 10-b case of roasted coffre is $ Requirement 3. How often should the company reassess standard quantities and standard prices for inpuls? Since the price of coffee beans aften, the company reassess standard prices oflen. In addilion, the company V need to reassess price slandards if it finds cheaper suppliers for the ingredients. They The company should reassess quantity standard for overhead ir or reassess labor standards if the need to reassess quantity standards for the direct materials changes. Choose from any list or enter any number in the input fields and then continue to the next question. ? Screenshot Mountain Peak Coffee purchases green collee beans from various suppliers and then roasis the coffee beans in ils roasting facility. (Click the icon to view the manufacturing information.) Read the requirements Requirement 1. What is the standard cost of producing one 10-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 total standard cost of producing one 10-pound case of roasted coffee beans. (Round your answers to the nearest cent.) Standard cost of input More Info Direct materials pounds per pound per hour Direct labor Variable manufacturing overhead hours machine hours Der hour Fixed manufacturing overhead machine hours I per hour Tolal The roasted beans are sold in 10-pound cases to grocery stores and restaurants for S65 per case. Each case of roasted coffee beans requires 15 pounds of unroasted green coffee beans. The company can purchase the green coffee beans, including freight-in and purchase discounts, for $3.00 per pound. Each case of roasted coffee beans requires 0.10 hours of direct labor in the production process. Direct laborers are paid $15 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 0.40 machine hours to produce. The company expects to produce 500.000 cases of roasted coffee beans in the upcoming year. At this production volume, the company expects total variable manufacturing overhead to be $4,000,000 for the year. The company also expects to incur $50,000 of fixed manufacturing overhead per month, or $600,000 for the year. Requirement 2. What is the standard gross profit per 10-pound case of roasted coffee beans? (Round your answers to the nearest cent.) The gross profit per 10-b case of roasted coffee is $ Requirement 3. How often should the company reassess slandard quantities and slandard prices for inpuls? Since the price of coffee beans often, the company reassess standard prices oflen. In addilion, the company y need to reasses Requirements They The company should reassess quanlity standard for over need to reassess quantity standards for the direct materials changes. 1. What is the standard cost of producing one 10 pound case of roasted coffee beans? 2. What is the standard gross profit per 10-pound case of roasted collee beans? 3. How often should the company reassess standard quantities and standard prices for inputs? Print Done Choose from any list or enter any number in the input fields and then continue to the next question. Screenshot