A task comprises $4$ elements. Upon adequate sampling, it took the task $56$ seconds to complete, on average. Performance rating is $105\%$ and allowance is set at $16\%,$ based on the constant method. Identify the correct statement$($s$)$ below. Negative points apply to the wrong selection$($s$).$

Standard time: $53\mathrm{.}33$ seconds

Observed time: $14$ seconds

Normal time: $68\mathrm{.}21$ seconds

Normal time: $14\mathrm{.}7$ seconds

Standard time: $17\mathrm{.}05$ seconds

Normal time: $58\mathrm{.}8$ seconds

Standard time: $70$ seconds

Observed time: $56$ seconds