Marigold Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Marigold.

			Time Charges			Material Loading Charges
	Technicians' wages and benefits		$ 189,800				-
	Parts manager's salary and benefits		-				$ 40,500
	Office employee's salary and benefits		36,500				9,940
	Other overhead		14,600				24,960
	Total budgeted costs		$ 240,900				$ 75,400

The company desires a $ 36 profit margin per hour of labor and a 29% 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 2022 will be $ 416,000.

Compute the rate charged per hour of labor.

Labor rate

$ enter the labor rate per hour in dollars

per hour

eTextbook and Media

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

Material loading percentage

enter the material loading percentage rounded to 3 decimal places %

eTextbook and Media

Pace Corporation has requested an estimate to rebuild its spot welder. Marigold estimates that it would require 44 hours of labor and $ 2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.)

Total estimated bill

$ enter the total estimated bill in dollars rounded to 2 decimal places