Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. Material Time Loading Charges Charges Technicians' wages and benefits $192,400 Parts manager's salary and benefits $40,600 Office employee's salary and benefits 44,400 7,910 Other overhead 29,600 27,440 Total budgeted costs $266,400 $75,950 The company desires a $34 profit margin per hour of labor and a 20.00 % profit margin on parts. It has budgeted for 7,400 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $392,000. Compute the rate charged per hour of labor. Labor rate $ eTextbook and Media 26 per hour * Your answer is incorrect. Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501 %.) Material loading percentage 39.374 % Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 43 hours of labor and $3,200 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) Total estimated bill eTextbook and Media 5577.97