Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows:

$\backslash$table$[[\backslash$table$[[$Standard$],[$Hours$]],\backslash$table$[[$Standard Rate$],[$per Hour$]],\backslash$table$[[$Standard$],[$Cost$]]],[24$ minutes,$$6\mathrm{.}40,$$$2\mathrm{.}56$