Sheffeld Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Sheffield. The company desires a $36 profit margin per hour of labor and a 22% profit margin on parts, It has budgeted for 7.300 hours of repait time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. Compute the rate charged per hour of labor. Labor rate per hour eTextbook and Media Using multiple attempts will impact your score. 1036 score reduction after attempt 2 (b) Compute the materlal loading percentage. (Round answer to 3 decimal ploces, es. 10.501\%.) Pace Corporation has requested an estimate to rebuild its spot welder. Sheffield estimates that it would require 37 hours of labor and $2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, es. 10.50.) Total estimated bill