Waterways Corporation competes in a market economy in which its products must be sold at market prices. Its emphasis is the on manufacturing its products at a cost that allows the company to earn its desired profit. This problem asks you to consider va pricing situations for Waterways' projects. Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2022 are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects for 2022 Material Time Loading Charges Charges Labor wages (5,700 hours) $238,260 Supervisor's salary $62,000 Clerical and accountant wages 58,140 4,000 Irrigation supplies manager 39,000 Overhead 53,010 21,720 Total $349,410 $126,720 Waterways has budgeted for 5,700 labor hours. It desires a $13 profit margin per hour of labor and 15% profit on materials. It estimates the total invoice cost of materials in 2022 will be $660,000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) $ Labor rate. per hour Compute the material loading charge. (Round answer to 2 decimal places, e.g. 52.75%.) Material loading charge. % Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 490 hours of labor and $82,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.) Total estimated bid for the parkway project $