Keith assembles peanut valves and the recorded data is displayed in the table. What is the select time for this job element? 
Definitions:
Formula Approach
A method that uses mathematical formulas to solve problems or make decisions.
Materials Price Variance
A measure of the difference between the actual cost of materials and the standard cost, used to assess purchasing efficiency.
Standard Price
The predetermined cost at which goods or services should be purchased or sold, often used as a benchmark for evaluating actual costs.
Actual Price
The genuine cost at which a transaction has occurred or will occur, without any adjustments or discounts.
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