Value is the amount of labor that is being put into a product like how many hours you work making that product. Something that costs more has more value because the more labor work you put into that product. Value-social construct that varies across circumstances & cultures. 

Labor and value are related because the more labor you put in a product the higher the value of the product is. (Time and effort) 

Labor power according to Marx is when you go to work you rent out your labor power for the day. Meaning like you now are working for yourself and for someone else. So say you are working on a product and it takes you 4 hours to do it and you work 9-5 the rest of the hours you  have left you are now working for someone and what you make how gose to them. Marx said “ You are alway being paid less than what your labor is actually worth.” Labor power owned by the capacity. Labor is the physical act of work. 

Surplus value is privately owned by the capitalist(someone you work for). Workers don’t get the full value for their labor work. Surplus value is what the person you work for gets for the product he or she sold from your labor the hours you just stood at work doing nothing because you are done with your work. All that labor hours gose to your boss.