Sacond Chance Welding rabuilds spot welders for manufacturars. The following budgated cost data for 2020 is avalable for Sacond Chance. The company desires a $37 profit margin per hour of labor and a 21.0015 profit margin on parts. It has budisated for 7,900 hours of repair time in the coming year, and estimates that the total imoice cost of parts and materials in 2020 will bs $416,000. Compute the rate charzed per hour of labar. Labor rate $ parhour Compute the matarial loading parcantage. (Round answer to 3 decimal places, eg. 10.501\%.) Material lading percentage is X Your angwar is incorrect. Pace Corporation has requasted an estimate to rabuild its spot welder. Second Chance estimates that it would reguire 43 hours of labor and $2,000 of parts. Computs the total astimated bill. (Round answer to 2 decimal places, e.g. 10.50.)