Erie company manufactures a small mp3 player called the jogging mate. the company uses standards to control its costs. the labor standards that have been set for one jogging mate mp3 player are as follows: standard hours standard rate per hour standard cost 24 minutes $5.40 $2.16 during august, 8,540 hours of direct labor time were needed to make 19,600 units of the jogging mate. the direct labor cost totaled $45,262 for the month. required: 1. according to the standards, what direct labor cost should have been incurred to make 19,600 units of the jogging mate? by how much does this differ from the cost that was incurred?