Dauterive Co. manufactures wooden pen and pencil holders. The following materials and labor standards have been set for one holder. 5 ounces of wood at $0.50 per ounce $2.50 4 minutes of labor times at $9.00 per hour 0.60 During July, the company incurred the following costs to manufacture 46,800 holders. 14,250 pounds of wood at $8.30 per pound $118,275 3,840 hours of labor time at $9.25 per hour 35,520 Required: (c) What are the standard hours of labor time allowed for the actual production