Chiltern Ltd intends to bid for a contract which needs 305 kgs of material X and 136 hours of labour. The company currently hold 510 kgs of material X in stock that were bought for 27.06 per kg two months ago which is used regularly to make several products. The current market price of this material is 27.65 per kg but can only be bought in fixe quantity of 400kg at a time. Labour is currently paid 12 an hour. However, under normal working conditions, there is only spare capacity for 80 hours of labour. However, labour is prepared to work overtime at 50% premium over normal rate of pay.

Required: Calculate the relevant cost of the material and labour that needs to be included in the bid for this contract.