Watt Car Repair specializes in repairing electric cars. The company uses a 60 percent markup rate on parts to cover parts-related overhead costs and profit margin. It uses a 200 percent markup rate on labor to cover labor-related overhead costs and profit margin. Compute the bill for a recent job that used the following parts and labor:
Material and repair parts used.................. $300
Labor used................... 5 hours at $40 per hour