Friendly Car Repair performs routine maintenance on rental vehicles. The following materials, parts, and direct labor are needed to repair the rental fleet:

Expected hours of repair time next year	10,000 hours
labor rate including fringe benefits	$180,000
Cost of material ordering, handling and storage	$400,000
Other repair costs (except for materials related costs)	$200,000
Invoice cost of material used in the repair department	$1,000,000
Hourly charge to cover profit margin	$7 per hour
Mark up on invoice cost of parts	20%

Required:

1. Compute the time rate per hour and the material loading charge that would be used to bill jobs.
2. If you know that the company will be using the rates calculated above to price a job that requires 4 hours of repair and $1300 in parts. Compute the amount that would be billed for the job.