Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benefits $243,600 Purchasing agent's salary and fringe benefits $78,640 Administrative salaries and fringe benefits 58,000 21,200 Other overhead costs 23,200 74,880 Total budgeted costs $324,800 $174,720 The company anticipated that the restorers would work a total of 11,600 hours this year. Expected parts and materials were $1,248,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $69 and that the material loading charge was 83%