Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016 are as follows.

WATERWAYS CORPORATION

Budgeted Costs for Irrigation Projects for 2016Time

ChargesMaterial

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ChargesLabor wages (5,750 hours)

$240,000

Supervisors salary

$ 60,000

Clerical and accountant wages

60,000

4,000

Irrigation supplies manager

40,000

Overhead

53,950

21,000

Total

$353,950

$125,000

Waterways has budgeted for 5,750 labor hours. It desires a $14 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in 2016 will be $640,000.

Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 480 hours of labor and $80,000 of materials. Compute the total estimated bid for the parkway project.(Round answer to 0 decimal places, e.g. 5,275.)

Total estimated bid for the parkway project ???