Flint, 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 1.25 hour
Hourly wage rate $15.00
Payroll taxes 10% of wage rate
Setup and downtime 22% of actual labor time
Cleanup and rest periods 28% of actual labor time
Fringe benefits 25% of wage rate

Required:
1. Determine the standard direct labor hours per oil change. (Round answer to 2 decimal places, e. g. 2.75.)
2. Determine the standard direct labor hourly rate. (Round answer to 2 decimal places, e. g. 2.75.)
3. Determine the standard direct labor cost per oil change. (Round answer to 2 decimal places, e. g. 2.75.)

John and daphne are saving for their daughter ellen's college education. ellen just turned 10 at (t = 0), and she will be entering college 8 years from now (at t = 8). college tuition and expenses at state u. are currently $14,500 a year, but they are expected to increase at a rate of 3.5% a year. ellen should graduate in 4 years--if she takes longer or wants to go to graduate school, she will be on her own. tuition and other costs will be due at the beginning of each school year (at t = 8, 9, 10, and 11).so far, john and daphne have accumulated $15,000 in their college savings account (at t = 0). their long-run financial plan is to add an additional $5,000 in each of the next 4 years (at t = 1, 2, 3, and 4). then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. they expect their investment account to earn 9%. how large must the annual payments at t = 5, 6, and 7 be to cover ellen's anticipated college costs? a. $1,965.21b. $2,068.64c. $2,177.51d. $2,292.12e. $2,412.76