Of course, the labor that goes into a widget is ALL the labor, including labor that goes into mining the ore, transportation, buildings, governments.
The price of an object can be less than the labor that went into it, because the buyer doesn't want it that much, but the price of an object cant be MORE than the labor that goes into it, otherwise you could pay for the labor to make another one.
You spent a hundred hours making a tire, but I don’t think it's that great so I'm only willing to give you a dollar for it.
If you buy a laptop computer, you are paying for the labor that went into making it. You could make one yourself instead of buying one from the factory, but inefficiencies would increase your labor to a lot more than the factory that makes them. So you buy it from the laptop factory instead.
The price of anything can range from zero up to the cost it would take to make another one.