Current Attempt in Progress Sheridan Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Sheridan. Time Charges $221,200 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 39,500 23,700 $284,400 $40,200 6,840 23,040 $70,080 The company desires a $37 profit margin per hour of labor and a 20.00% 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 2020 will be $384,000. (a) Compute the rate charged per hour of labor. Labor rate $ per hour e Textbook and Media Save for Later Attempts: 0 of 1 used Submit Answer Compute the material loading percentage. (Round answer to 3 decimal places, eg. 10.501%.) Material loading percentage % e Textbook and Media Bonita Corporation has requested an estimate to rebuild its spot welder. Sheridan estimates that it would require 41 hours of labor and $2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) Total estimated bill $