Concord Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Concord. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs Time Charges $221,200 39,500 23,700 $284,400 Material Loading Charges $40,200 6,840 23,040 $70,080 The company desires a $37 profit margin per hour of labor and a 20% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $384,000.

Concord Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Concord, The company desires a $37 profit margin per hour of labor and a 20% profit margin on parts. It has budgeted for 7.900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $384,000. Compute the material loading percentage (Round answer to 3 decimal ploces, eg. 10.501% ) Material loading percentage