terial pricing E8-8 Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2014 is available for Second Chance. Material Time Loading Charges Charges Technicians' wages and benefits $228,000 Parts manager's salary and benefits $42,500 Office employee's salary and benefits 38,000 9,000 Other overhead 15,200 24,000 Total budgeted costs $281,200 $75,500 The company desires a $30 profit margin per hour of labor and a 20% profit margin on parts. It has budgeted for 7,600 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2014 will be $400,000. Instructions (a) Compute the rate charged per hour of labor. (b) Compute the material loading percentage. (Round to three decimal places.) (c) Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 40 hours of labor and $2,000 of parts. Compute the total estimated bill. terial pricing E8-8 Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2014 is available for Second Chance. Material Time Loading Charges Charges Technicians' wages and benefits $228,000 Parts manager's salary and benefits $42,500 Office employee's salary and benefits 38,000 9,000 Other overhead 15,200 24,000 Total budgeted costs $281,200 $75,500 The company desires a $30 profit margin per hour of labor and a 20% profit margin on parts. It has budgeted for 7,600 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2014 will be $400,000. Instructions (a) Compute the rate charged per hour of labor. (b) Compute the material loading percentage. (Round to three decimal places.) (c) Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 40 hours of labor and $2,000 of parts. Compute the total estimated bill