Can any one please advise me how I can do the following

In A1 00:27:25 (which is time hh:mm:ss)

In B1 0.488p ( which is the cost)

In C1 - I have to charge the time by the cost but what ever I have done it
does not work the same as doing via a calculator which I do not want to do as
I have over 8,000 in my spread sheet.

The above should come out to 13.29pence

Thank you in advance