Neptune 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. 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 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead pounds hours Total per pound per hour = machine hours per hour machine hours x per hour 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-lb 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 They often, the company need to reassess quantity standards for the direct materials reassess standard prices often. In addition, the company need to reassess price standards if it finds cheaper suppliers for the ingredients. The company should reassess quantity standard for overhead if or reassess labor standards if the changes. Requirements 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 coffee beans? 3. How often should the company reassess standard quantities and standard prices for inputs? - X