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 $197,600 Parts manager's salary and benefits - $39,100 Office employee's salary and benefits 53,200 13,420 Other overhead 30,400 20,800 Total budgeted costs $281.200 $73,320 The company desires a $35 profit margin per hour of labor and a 20.00% 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 2020 will be $416,000. Your answer is correct. Compute the rate charged per hour of labor. Labor rate eTextbook and Media 72 per hour x Your answer is incorrect. Compute the material loading percentage. (Round answer to 3 decimal places, eg. 10.501%) Material loading percentage 82.625 % eTextbook and Media * Your answer is incorrect Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 40 hours of labor and $2,400 of parts. Compute the total estimated bill (Round answer to 2 decimal places, eg. 10.50) Total estimated bill 7263