Sheffield Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Sheffield. Time Material Loading Charges Charges Technicians' wages and benefits $211,700 Parts manager's salary and benefits $39,300 Office employee's salary and benefits 43,800 11,140 Other overhead 29,200 29,120 Total budgeted costs $284,700 $79,560 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 repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. (a) Your answer is correct. Compute the rate charged per hour of labor. Labor rate 75 per hour (b) Your answer is incorrect. Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501%.) Material loading percentage % (c). 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, e.g. 10.50.) Total estimated bill A