Crane's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows: Restorers' wages and benefits Purchasing agent's salary and benefits Administrative salaries and benefits Other overhead costs Total budgeted costs Time Charges $280,800 62,400 20,800 $364,000 Material Loading Charges $70,200 23,400 151,200 $244,800 The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,200,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $60.00 and that the material loading charge was 83.80%.

Crane's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows: The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,200,000 In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $60.00 and that the material loading charge was 83.80%6