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 $175,000 Parts manager's salary and benefits $39,000 Office employee's salary and benefits 28,000 7,080 Other overhead Total budgeted costs 7,000 $210,000 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) Compute the rate charged per hour of labor. (b) Labor rate $ eTextbook and Media 60 per hour Compute the material loading percentage. (Round answer to 3 decimal places, eg. 10.501%) Material loading percentage Attempts: 1 of 5 used