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 $266,000 Parts manager's salary and benefits $40,000 Office employee's salary and benefits 45,600 10,500 Other overhead 22,800 28,000 Total budgeted costs $334,400 $78,500 The company desires a $35 profit margin per hour of labor and a 26.00% proht 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 $400,000.