Sheridan Company has the following budgeted costs for the next year based on budgeted hours of 6,000: Sheridan estimates that the repairs to a Cadillac Escalade damaged in an accident will take 45 hours of labor and $3500 in parts and materials. If the hourly labor charge is $44 and there is a 67% markup on material costs, what is the total cost of the repairs? $4355.$7825.$5480.$1980