A specified factory produces air conditioners. The assembly employees are paid a regular rate per working hour. The standard time for each product was computed as 12 hours. The work year consists of 52 weeks, 40-hours per week, 8 hours per day with the following specifications: Element description Unit Hourly based: Regular labor rate per hour 31 S Overtime working* 28 days Paid holidays 8 days Paid vacation 9 days Average sick leave 1 days Estimated lost time per employee 2.8 % From the total year hours Non-hourly based: FICA taxes at current rate 6.93 % Workmen's compensation 2.85 % of regular wages up to $20,000 Accident insurance sum of 542 $ Supplemental medical 439 S Unemployment insurance of 919 S *Consider that: the overtime rate is 1.5 of the regular rate (a) Find the effective gross hourly cost. (b) find the percent increase over standard wage rate. (c) Compute the labor cost per unit of the final product.