Waterway Industries has the following budgeted costs for the next year:

		Time Charges			Material Charges
Shop employees wages and benefits		$120000			$ -
Parts managers salary and benefits		-			50000
Office employees salary and benefits		45000			15000
Other overhead		15000			40000
Invoice cost of parts and materials		-			454000
Total budgeted costs		$180000			$559000

Next years material loading charge, assuming a 30% markup on material cost is

48.78%.

53.00%.

30.00%.

18.78%.