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 $264,000 Purchasing agent's salary and fringe benefits $82,140 Administrative salaries and fringe benefits 60,000 21,700 Other overhead costs 12,000 77,880 Total budgeted costs $336,000 $181,720 The company anticipated that the restorers would work a total of 12,000 hours this year. Expected parts and materials were $1,298,000. 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 83%