Finance costs In order to complete the contract, a member of the finance team will be required to work eight hours overtime. The individual's annual salary is $25,000, and they work a 37.5-hour week. Overtime is paid at a rate of $15 per hour. Alternatively, an experienced contract accountant can be hired to administer the project in 75% of the time it would take the internal finance department member to complete. The contractor's rate is $25 per hour. It took the member of the finance team three hours to put together the information for this quote and no overtime was required. Instructions: (3 marks each) What is the relevant cost of material K which should be included in the contract?

What is the relevant cost of material L which should be included in the contract?

What is the relevant cost of skilled labour which should be included in the contract?

What is the relevant cost of finance which should be included in the contract?