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Monte Services, Inc. is trying to establish the standard labor cost of a typical brake...

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Accounting

Monte Services, Inc. is trying to establish the standard labor cost of a typical brake repair. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the brake repairs 5 hours Hourly wage rate $14 Payroll taxes 10% of wage rate Setup and downtime 9% of actual labor time Cleanup and rest periods 29% of actual labor time Fringe benefits 25% of wage rate Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hourly rate

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