Concord Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Concord. Time Charges $ 197,600 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 53,200 7,600 $258,400 $39,100 9,380 26,880 $75,360 The company desires a $30 profit margin per hour of labor and a 26.00% profit margin on parts. It has budgeted for 7,600 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $384,000. Compute the rate charged per hour of labor. Labor rate $ per hour Compute the material loading percentage. (Round answer to 3 decimal places, eg. 10.501%.) Material loading percentage % e Textbook and Media Sheridan Corporation has requested an estimate to rebuild its spot welder. Concord estimates that it would require 44 hours of labor and $2,400 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, eg. 10.50.) Total estimated bill $