16. Refer to the process chart for the automobile oil change in Solved Problem 2. Calculate the annual labor cost if: ▪ The mechanic earns $40 per hour (including variable fringe benefits).▪ The process is performed twice per hour (on average).▪ The shop is open 300 days a year, 10 hours a day.a. What is the total labor cost associated with the process?b. If steps 7, 10, 12, and 15 were eliminated, estimate the annual labor savings associated with implementing this new process