Select the person who has the primary role in each of the following activities associated with developing standards. a. Purchasing manager. b. Industrial engineer. c. Managerial accountant. show less Establishing the labor rate standard based on the type of labor required. Determining if the company should take advantage of price reduction available through economic order size. Establishing the standard cost for material required by the bill of materials. Obtaining the data regarding the availability of materials. Reviewing all the information regarding standards received from all the departments. Converting physical standards such as hours and quantities to monetary equivalents. Participating in time studies and test runs to establish time standards. Determining the application rates for indirect costs. Establishing, in conjunction with the production supervisor, any allowances for scrap, shrinkage and waste Preparing the bill of materials that specifies the types and quantities of material required