Jaycee Auto Repair has the following budgeted costs for the next year: Time Charges Material Charges Shop employees' wages & benefits $228,000 Parts manager's salary & benefits 42.500 Office employee's salary & benefits 38,000 9,000 Other overhead 15,200 24,000 Invoice cost of parts & materials 75,500 Total budgeted costs $281.200 $500,000 The company desires a $30 profit margin per hour of labor and a 20% profit margin on parts. It has budgeted for 7. repair time in the coming year, and estimates that the total invoice cost of materials in 2022 will be $100,000. Compute the material loading percentage. (Answer format: round to two decimal places, include % e.g. 15.32%) Question 9