Tree Top 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 cost of input Direct materials Direct labor Variable manufacturing overhead per pound - per hour per hour per hour- pounds machine hours x Fixed manufacturing overheadmachine hours p 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? Since the price of coffee beans Voften, the company reassess standard pri ces often. In addition, the company need to reassess price standards if it finds cheaper suppliers for the ingredients. They V need to reass sess quantity standards for the direct materials The company should reassess quantity standard for overhead if or reassess labor standards if the changes. More Info Requirements The roasted beans are sold in 15-pound cases to grocery stores and restaurants for $70 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 $4.00 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 0.20 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 $3,800,000 for the year. The company also expects to incur $75,000 of fixed manufacturing overhead per month, or $900,000 for the year 1. 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? 2. 3. Choosef Print Done