Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Time Charges Material Loading Charges $264,000 $82,140 Restorers' wages and fringe benents Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs 60,000 21.700 12,000 77.880 $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% (b) Determine the profit margin on materials. (Round intermediate calculations to 2 decimal places, e.g. 10.25% and final answer to O decimal places, e.g. 10%.) Profit margin on materials eTextbook and Media Save for Later Attempts: 0 of 5 used Submit