Exercise 14-15 (Algo) Developing direct labor cost standards LO 14-8, 14-9 Oakwood Creations Company makes decorative candle pedestals. An industrial engineer consultant developed ideal time standards for one unit of the Berkley model pedestal. The standards follow, along with the cost accountant's determination of current labor pay rates: Required: a. Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. b. Would it be appropriate to use the cost calculated in part a as a standard cost for evaluating direct labor performance and valuing inventory? Complete this question by entering your answers in the tabs below. Using the preceding data, calculate the direct labor cost for a Berkley model pedestal. Note: Do not round intermediate calculations. Round final answer to 2 decimal places