Q.6 (a) Second Chance welding rebuilds spot welders for manufactures. The following budgeted cost data for 2014 is available for second chance. Time Charges Materials loading charges Technician's wages and benefits $228,000 Parts manager salary and benefits $42,500 Office employee's salary and benefits 38,000 9,000 Other overhead 15,200 24,000 Total Budgeted costs 281,200 $75,500 The company desires a $30 profit margin per hour of labor and a 20% profit margin on parts. It has budgeted for 7,600 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2014 will be $400,000 Required: (a) Compute the rate charged per hour of labor. And Compute the material loading percentage. (b) Corporation has requested an estimate to rebuild its spot welder. Second chance estimates that it would require 40 hours of labor and $2,000 of parts. Compute the total estimated bill