Erie Company manufactures a small mp3 player called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate mp3 player are as follows: Standard Cost $2.32 Standard Standard Rate Hours 24 minutes per Hour $5.80 During August, 8,680 hours of direct labor time were needed to make 20,000 units of the Jogging Mate. The direct labor cost totaled $48,608 for the month