P10.5 (Relevant Costs of Labour) Magic Solutions Consultants (MSC) wants to bid for a market research project. The cost estimates on which MSC will base its bid are shown below: 200 hours of work in initial data collection and preparation of research questionnaire 100 hours can be provided by existing staff who are not currently utilizedtheir total employ- ment cost is $22 per hour 100 hours will have to be provided by temporary staff at a cost of $15 per hour MSC's in-house, existing database resources will be utilized to provide data for the project. The research data that will be used was purchased some months previously at a cost of $2,500. The data have never been used before and are unlikely to be used again. An additional updated re- port will, however, have to be purchased at a cost of $500. Printing and postage of questionnaires will cost $1,000. The in-house computer processing facility will process returned questionnaires. The computer facility charges $2,000 for each survey it processes internally. The consultancy will have to purchase a specialist software package to undertake the sophisti- cated statistical analysis required. The software will cost $1,750 and training costs of $500 will be incurred for employees to learn how to use the package. The package may be used again in the future. A manager will be involved in the detailed planning, design, and logistics for the research. The manager's time has been costed at 14 days @ $500 or $7,000, but he is very busy and will have to be remunerated through overtime at an additional cost of $3,500 in order for him to carry out other work that he is committed to complete. A partner will supervise the entire project. An estimate of her time has been costed at $1,500, but the consultancy will not incur any additional costs for the project. a. Calculate the cost for the market research project based on the full costs for the project. b. Calculate the relevant cost of the market research project