Waterways Corporation

$($This is a continsation of the Watervays Problem from Chaptens. through z$)$ consider a pricing situation for Waterways' projects.

Waterways uses time and material pricing when it bids en irrigation projects.

Buderted data for zoaz are as follows.

WATERWAY CORPORATION

Budgeted Costs for Irrigation Projects for $2022$

Time Loading ChargesMaterial Time Leading Charges Charges

Labor wages $(5,750$ hours$)$ s$240,000$ Supervisor's salany

Clerical and accouatant wages

$$240,000$

$60,000$

$53,950$

$8353,950$

$860,000$

Irrigation aupplies manager

Overhead

Total

$3353950$

$4,000$

$40,000$

$21,000$

$$125,000$

Waterways has budgeted for $5,750$ labor hours. It desires a $814$ proflt margin per hour of labor and $16\%$ profit on materials. It eatimates the total invoice cost of materials in $2022$ will be $5640,000$

Instruetions

a$.$ Compute the rate per hour of labor. $($Round to two decimal places.$)$

b$.$ Compute the material loading charse. $($Round to two decimal places.$)$ estimated price quotation for the parkway project.