Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Time Charges Material Loading Charges Restorers' wages and fringe benefits $268,800 Purchasing agent's salary and fringe benefits $68,660 Administrative salaries and fringe benefits 51,200 20,100 Other overhead costs 12,800 76,080 Total budgeted costs $332,800 $164,840 The company anticipated that the restorers would work a total of 12,800 hours this year. Expected parts and materials were $1,268,000. 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%.