a) Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.)

b) Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.)

c) 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 430 hours of labor and $83,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.)

Waterways Continuing Problem 08 Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Material Time Loading Charges Charges Labor wages (5,500 hours) $239,800 Supervisor's salary $62,000 Clerical and accountant wages 63,250 4,000 Irrigation supplies manager 42,000 Overhead 53,900 21,980 Total $356,950 $129,980 Waterways has budgeted for 5,500 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 the coming year will be $670,000