Extra Credit: 7. Johnson Industries received a contract to develop and produce four high-intensity long. distance receiver/transmitters for cellular telephones. The first took 2,000 labor hours and $39,000 worth of purchased and manufactured parts; the second took 1,500 labor hours and $37,050 in parts; the third took 1,450 labor hours and $31,000 in parts; and the fourth took 1,275 labor hours and $31,492 in parts. Johnson was asked to bid on a follow-up contract for another 12 receiver/transmitter units. What should Johnson estimate for time and parts costs for the next 12 units? (20 pts) (Instructar's note: there are TwO learning curves - one for labor, one for parts, and you may need to use the averaging technique to determine the curves)