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

Martinez.

Time

Charges

$246,400

Material

Loading

Charges

Technicians' wages and benefits

Parts manager's salary and benefits

Office employee's salary and benefits

Other overhead

Total budgeted costs

46,200

23,100

$315,700

$39,200

12,310

24,480

$75,990

The company desires a $35 profit margin per hour of labor and a 21% profit margin on parts. It has budgeted for 7,700

hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be

$408,000.

(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)

Pace Corporation has requested an estimate to rebuild its spot welder. Martinez estimates that it would require 37

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

Martinez Welding rebuilds spot weiders for manufacturers. The following budgeted cost data for 2022 is available for Martinez. The company desires a $35 profit margin per hour of labor and a 21% profit margin on parts. It has budgeted for 7.700 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $408,000. (a) Compute the rate charged per hour of labor. Labor rate per hour eTextbook and Medla Attempts: 0 of 3 used Using multiple attempts will impact your score. 10% score reduction after attempt 2 Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501%.) Material loading percentage % eTextbook and Media Attempts: 0 of 3 used Using multiple attempts will impact your score. 10% score reduction after attempt 2 (c) Pace Corporation has requested an estimate to rebuild its spot weider. Martinez estimates that it would require 37 hours of labor and $2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.8. 10.50. Total estimated bili \$ $ eTextbook and Media Attempts: 0 of 3 used Using multiple attempts will impact your score. 10% score reduction after attempt 2