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 $200,000 Purchasing agent's salary and fringe benefits $64,000 Administrative salaries and fringe benefits 40,000 20,000 Other overhead costs 10,000 72,000 Total budgeted costs $250,000 $156,000 The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,200,000. 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 $68 and that the material loading charge was 82%.