Pronghorn Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Pronghorn. Time Material Loading Charges Charges Technicians' wages and benefits $229,100 Parts manager's salary and benefits $40,500 Office employee's salary and benefits 55,300 10,500 Other overhead 31,600 20,400 Total budgeted costs $316,000 $71,400 The company desires a $37 profit margin per hour of labor and a 21% profit margin on parts. It has budgeted for 7,900 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 % eTextbook and Media Save for Later Using multiple attempts will impact your score. 10% score reduction after attempt 2 (c) Your answer is incorrect. Attempts: 0 of 3 used Submit Answer Pace Corporation has requested an estimate to rebuild its spot welder. Pronghorn estimates that it would require 41 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 $ 8952.81