Sheridan Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Sheridan. Material Time Loading Charges Charges Technicians' wages and benefits $202,800 Parts manager's salary and benefits $39,300 Office employee's salary and benefits 31,200 8,230 Other overhead 23,400 23,520 Total budgeted costs $257,400 $71,050 The company desires a $30 profit margin per hour of labor and a 23.00% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $392,000.(a) V Your answer is correct. Compute the rate charged per hour of labor. Labor rate 63 per hour e Textbook and Media Attempts: 1 of 5 usedYour answer is correct. Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501%.) Material loading percentage 41.125 % e Textbook and Media Attempts: 1 of 5 used(C) Bonita Corporation has requested an estimate to rebuild its spot welder. Sheridan estimates that it would require 45 hours of labor and $3,200 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) Total estimated bill $ eTextbook and Media Save for Later Attempts: 0 of 5 used