MaxiDrive manufactures a wide variety of parts for recreational boating, including a gear and driveshaft part for high-powered outboard boat engines. Original equipment manufacturers such as Mercury and Honda purchase the components for use in large, powerful outboards. The part sells for $690, and sales volume averages 30,500 units per year. Recently, MaxiDrive's major competitor reduced the price of its equivalent unit to $616. The market is very competitive, and MaxiDrive realizes it must meet the new price or lose significant market share. Management has begun paying closer attention to costs and has reconfirmed the current existing standard costs. The controller then assembled the following cost and usage data for the most recent year for MaxiDrive's production of 30,500 units:

MaxiDrive manufactures a wide variety ofparts for recreational boating, including a gear and driveshafi part for highpowered outboard boat engines. Original equipment manufacturers such as Mercury and Honda purchase the components for use in large, powerful outboards. The part sells for $690. and sales volume averages 30,500 units peryear. Recently, MaxiDrive's major competitor reduced the price of its equivalent unit to $616. The market is very competitive, and MaxiDrive realizes it must meet the new price or lose significant market share. Management has begun paying closer attention to costs and has reconfirmed the current existing standard costs. The controller then assembled the following cost and usage data for the most recent year for MaXiDrive's production of 30.500 units: Budgeted Actual Quantity Budgeted Cost Quantity Actual Cost Direct materials $ ?,656,666 $ ?,556,666 Direct labor 2,?25,666 2,966,666- Indirect labor 2,?26,666 2,635,666 Inspection (hours and cost) 1,146 416,666 1,556 465,666 Materials handling (number of purchases and cost) 5,156 ??5,666 4,666 2166,666- Machine setups {number and cost) 1,956 1,625,666 2,656 1,666,666 Returns and rework (number of times and cost) 416 135,666 616 185,666 $ 14,846,666 $ 15,435,666 Required: 1. Calculate the target cost for maintaining current market share and profitability. {Do not round intermediate calculations. Round your answer to 2 decimal places.) _:|