Paulson's Piano Service, Inc. is trying to establish the standard labor cost of tuning a typical piano. The following data have been collected from time and motion studies conducted over the past three months. Actual time spent on tuning a piano 1.25 hours Hourly wage rate Payroll taxes Setup and downtime Travel and rest periods Fringe benefits $50 12 % of wage rate 5% of actual labor time 15 % of actual labor time 20 % of wage rate