Marigold Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Marigold.

Time Charges Material Loading Charges

Technicians' wages and benefits $211,700 -

Parts manager's salary and benefits - $39,300

Office employee's salary and benefits 43,800 11,140

Other overhead 29,200 29,120

Total budgeted costs $284,700 $79,560

The company desires a $36 profit margin per hour of labor and a 22.00% profit margin on parts. It has budgeted for 7,300 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $416,000.

a) Compute the rate charged per hour of labor.

Labor rate $ per hour

b)Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501%.)

Material loading percentage%

c)Concord Corporation has requested an estimate to rebuild its spot welder. Marigold estimates that it would require 37 hours of labor and $2,400 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.)

Total estimated bill $