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 $185,000 Parts manager's salary and benefits $40,900 Office employee's salary and benefits 37,000 11,620 Other overhead 37,000 29,120 Total budgeted costs $259,000 $81,640 The company desires a $36 profit margin per hour of labor and a 25.00% 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 $416,000.