Establish the money rate per hundred pieces from the following data: Cycle time (averaged measured time): 1.23

Question:

Establish the money rate per hundred pieces from the following data:
Cycle time (averaged measured time): 1.23 minutes
Base rate: $8.60 per hour. Pieces per cycle: 4.
Machine time (power feed): 0.52 minutes per cycle.
Allowance: 17 percent on effort time; 12 percent on power feed time.
Performance rating: 88%