22. The following data is available for Wheels 'N Spokes Repair Shop for 2021:

Repair technicians' wages $360,000

Fringe benefits 80,000

Overhead 60,000

Total $500,000

The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5,000 labor hours will be worked in 2021.

In March 2021, Wheels 'N Spokes repairs a bicycle that takes two hours to repair and uses parts of $240. The bill for this repair would be

Group of answer choices

$616

$592

$560.

$520.