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 $312,900 Purchasing agent's salary and fringe benefits $81,720 Administrative salaries and fringe benefits 59.600 21,400 Other overhead costs 14,900 77,340 Total budgeted costs $387,400 $180,460 The company anticipated that the restorers would work a total of 14,900 hours this year. Expected parts and materials were $1.289,000 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 $70 and that the material loading charge was 84%