uick Fix Services, Inc. is trying to establish the standard labor cost of a typical oil change.The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the oil change 1.0 hour Hourly wage rate $10 Payroll taxes 10% of wage rate Setup and downtime 10% of actual labor time Cleanup and rest periods 30% of actual labor time Fringe benefits 25% of wage rate Determine the standard direct labor hourly rate. (Round your answer to 2 decimal places, e.g. 10.54.) $