68 of direct materials cost Assume Samsung is designing a new smartphone. Each unit of this new phone is expected to require $285 of direct materials, $10 of direct labor, $30 of variable overhead, $5 of variable selling and administrative costs, and $20 of fixed selling and administrative costs. Direct labor rate $ 38 per direct labor hour $ 40 per direct labor hour Non-materials-related overhead $10 per direct labor hour $10 per direct labor hour Materials-related overhead 4t of direct materials cost Target profit margin on both conversion and direct materiala) Required: 1. For both Samsung and Apple, compute time charge per hour of direct labor (in $). 2. For both Samsung and Apple, compute materials markup per dollar of direct material cost on %). 3. For both Samsung and Apple, use time and materials pricing to compute the price quote for a local college. Both companies estimate the obligation to this college will require 1.000 direct labor hours and $35,000 of direct materials cost. 408 400 Samsung Apple 1. Time charge per hour of direct labor 2. Materials markup 3. Time and materials price quote % %