Padong Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 are available for Padong:

		Time Charges		Material Loading Charges
Technicians wages and benefits		$240,640
Parts managers salary and benefits				$44,398
Office employees salary and benefits		67,680		13,423
Other overhead		22,560		28,910
Total budgeted costs		$330,880		$86,730

The company wants a $40 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,520 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2020 will be $413,000.

(a)

Calculate the rate charged per hour of labour.

Rate charged

$ 84 per hour

(b)

Calculate the material loading percentage: