Exercise 24-04 a-d (Video) (Part Level Submission) 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 1 hour $12 Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Fringe benefits 10% of wage rate 20% of actual labor time 30% of actual labor time 25% of wage rate Determine the standard direct labor cost per brake repair. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor cost per brake repair