mpt in Progress Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benefits $200,000 Purchasing agent's salary and fringe benefits $64,000 Administrative salaries and fringe benefits 40,000 20,000 Other overhead costs Total budgeted costs 10,000 $250,000 72.000 $156,000 The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,200,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant