Required information Exercise 15-37 Time and Material Pricing (LO 15-9) Skip to question [The following information applies to the questions displayed below.] Refer to the following data for Sydney Sailing Supplies: Suppose the Repair Department of Sydney Sailing Supplies adds a markup of 5 percent on the material charges of a job (including the cost of material handling and storage). Exercise 15-37 Part 1 Required: Compute the material component of the price. (Do not round intermediate calculations.)