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		$236,220
Parts managers salary and benefits				$34,223
Office employees salary and benefits		68,580		11,408
Other overhead		15,240		19,305
Total budgeted costs		$320,040		$64,935

The company wants a $30 profit margin per hour of labour and a 25% profit margin on parts. It has budgeted for 7,620 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2020 will be $351,000.

(a) Calculate the rate charged per hour of labour.

Rate charged

$ 72 per hour

b- Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%.)

Material loading percentage

%