Please answer all questions

Please answer all questions, that is, answer all spaces.

1. Mountain Peak 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 15-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 15-pound case of roasted coffee beans. (Round your answers to the nearest cent.) Standard quantity Standard price = Standard cost of input 25.00 Direct materials 10.00 pounds X $ 2.50 per pound Direct labor 0.50 hours X $ 22.00 per hour $ 11.00 Variable manufacturing overhead 0.2 machine hours X 101 per hour 2 Fixed manufacturing overhead machine hours X per hour Total Requirement 2. What is the standard gross profit per 15-pound case of roasted coffee beans? (Round your answers to the nearest cent.) The gross profit per 15-lb case of roasted coffee is Requirement 3. How often should the company reassess standard quantities and standard prices for inputs? often, the company (2) Since the price of coffee beans (1) cheaper suppliers for the ingredients. reassess standard prices often. In addition, the company (3) need to reassess price standards if it finds They (4) need to reassess quantity standards for the direct materials (5). The company should reassess quantity standard for overhead if (6) or reassess labor standards if the (7) changes. 1: More Info The roasted beans are sold in 15-pound cases to grocery stores and restaurants for $95 per case. Each case of roasted coffee beans requires 10 pounds of unroasted green coffee beans. The company can purchase the green coffee beans, including freight-in and purchase discounts, for $2.50 per pound. Each case of roasted coffee beans requires 0.50 hours of direct labor in the production process. Direct laborers are paid $22 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 0.20 machine hours to produce. The company expects to produce 700,000 cases of roasted coffee beans in the upcoming year. At this production volume, the company expects total variable manufacturing overhead to be $4,200,000 for the year. The company also expects to incur $35,000 of fixed manufacturing overhead per month, or $420,000 for the year. 2: Requirements 1. 2. What is the standard cost of producing one 15-pound case of roasted coffee beans? What is the standard gross profit per 15-pound case of roasted coffee beans? How often should the company reassess standard quantities and standard prices for inputs? 3. (3) (1) can change is not likely to change (2) O should should not would O would not (4) O will will not (5) every time standard prices are checked O unless they change the recipe (6) O the receipe changes the standard prices change Othey decide to change the size of the case (7) 0000 overhead standard prices standard quantities O wage rate