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 $234,000 Purchasing agent's salary and fringe benefits $78,900 Administrative salaries and fringe benefits 46,800 20,700 Other overhead costs 23,400 74,700 Total budgeted costs $304,200 $174,300 The company anticipated that the restorers would work a total of 11,700 hours this year. Expected parts and materials were $1,245,000. 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 83%.