Coronado Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Coronado. Material Time Loading Charges Charges Technicians' wages and benefits $238,000 Parts manager's salary and benefits $39,700 Office employee's salary and benefits 56,000 11,810 Other overhead 14,000 20,400 Total budgeted costs $308,000 $71,910 The company desires a $34 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7,000 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $408,000. Compute the rate charged per hour of labor. Labor rate per hour LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501%.) Material loading percentage % LINK TO TEXT VIDEO: SIMILAR EXERCISE Sunland Corporation has requested an estimate to rebuild its spot welder. Coronado estimates that it would require 40 hours of labor and $2,400 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) Total estimated bill LINK TO TEXT VIDEO: SIMILAR EXERCISE