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 Non-materials-related overhead Materiale-related overhead 538 per direct labor hour $10 per direct labor hour $40 per direct labor $10 per direct labor Target profit margin (on both conversion and direct materials) 6% of direct materials cost 40% 44 of direct materie 40% Required: 1. For both Samsung and Apple, compute time charge per hour of direct labor (in $). 2. For both Samsung and Apple, compute materials mackup per dollar of direct material cost (in %). 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. Samsung 1 Time charge per hour of direct labor 2. Materials markup 3 Time and material price quote Apple