Part C Silver Spoon Service repairs commercial food preparation equipment. The following budgeted cost data is available for 2020: Time Material Charges Charges Costs to be Recovered: Technicians' wages and benefits $650,000 Parts manager's salary and benefits $192,000 Office manager's salary and benefits 130,000 Other overhead 580,000 888,000 Total budgeted costs $1,360,000 $1,080,000 Silver Spoon has budgeted for 40,000 hours of technician time during the coming year. It desires a $48 profit margin per hour of labor and a 75% profit margin on parts. Silver Spoon estimates the total invoice cost of parts and materials in 2020 will be $2,400,000. Required: 1. Compute the rate charged per hour of labor. 2. Compute the material loading charge. 3. Silver Spoon has received a request from Lime Corporation for an estimate to repair a commercial fryer. The company estimates that it would take 350 hours of labor and parts costing $75,000. Compute the total estimated price for the repair job