Required information [The following information applies to the questions displayed below.] Lakeway Manufacturing Company manufactures and sells household cleaning products. The company's research department has developed a new cleaner for which a standard cost must be determined. The new cleaner is made by mixing 8 quarts of triphate solution and 6 pounds of sobase granules and boiling the mixture for several minutes. After the solution has cooled, 4 ounces of methage are added. This "recipe" produces 10 quarts of the cleaner, which is then packaged in 1-quart plastic dispenser bottles. Raw material costs are as follows: c. Explain the process that would be used to develop the direct labor cost standard for the new product. Required information [The following information applies to the questions displayed below.] Lakeway Manufacturing Company manufactures and sells household cleaning products. The company's research department has developed a new cleaner for which a standard cost must be determined. The new cleaner is made by mixing 8 quarts of triphate solution and 6 pounds of sobase granules and boiling the mixture for several minutes. After the solution has cooled, 4 ounces of methage are added. This "recipe" produces 10 quarts of the cleaner, which is then packaged in 1-quart plastic dispenser bottles. Raw material costs are as follows: c. Explain the process that would be used to develop the direct labor cost standard for the new product