E21.8 (LO 3) Service Second Chance Welding rebuilds spot welders for manufacturers. The follow- ing budgeted cost data for 2020 is available for Second Chance. Material Loading Charges do Time Charges Technicians' wages and benefits $228,000 Parts manager's salary and benefits Office employee's salary and benefits 38,000 Other overhead 15,200 Total budgeted costs bodo Hodom $281,200 $42,500 9,000 24,000 $75,500 The company desires a $30 profit margin per hour of labor and a 20% 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 $400,000. Instructions a. Compute the rate charged per hour of labor. b. Compute the material loading percentage. (Round to three decimal places.) Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 40 hours of labor and $2,000 of parts. Compute the total estimated bill. E21.9 (LO 3) Service Rey Custom Electronics (RCE) sells and installs complete security, com- puter, audio, and video systems for homes. On newly constructed homes it provides bids using! 1