Ivanhoe Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Ivanhoe: Time Charges Material Loading Charges Technicians' wages and benefits $230,080 Parts manager's salary and benefits $48,375 Office employee's salary and benefits 43,140 16,125 Other overhead 28,760 32.250 Total budgeted costs $301,980 $96,750 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,190 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $430,000 (a)