Compute the rate charged per hour of labor. Labor rate perbour Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501\%.) Material loading percentage % Current Attempt in Progress Cheyenne Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Cheyenne. The company desires a $30 profit margin per hour of labor and a 23% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coroing year, and estimates that the total invoice cost of parts and materials in 2022 will be $392,000. Pace Corporation has requested an estimate to rebuild its spot welder. Cheyenne estimates that it would require 45 hours of labor and $2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e. . 10.50.) Total estimated bill