Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. Time Charges $175,000 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 28,000 7,000 $210.000 $39.000 7,080 19,200 $65,280 The company desires a $30 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7.000 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $384.000. (a) Your answer is correct. Compute the rate charged per hour of labor. Labor rate $ 60 per hour (b) Your answer is correct Compute the material loading percentage. (Round answer to 3 decimal places, eg. 10.501%) Material loading percentage 37 % eTextbook and Media Attempts: 1 of 5 used (c) Your answer is incorrect. Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 35 hours of labor and $2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, eg. 10.50) Total estimated bill $ 2840