Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for 2016 are as follows. waterways has budgeted for 5, 750 labor hours. It desires a $14 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in 2016 will be $640,000. Compute the rate per hour of labor. (Round answer to 2 decimal places, e.g. 52.75.) per hour Labor rate Compute the material loading charge. (Round answer to 2 decimal places, eg. 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 480 hours of labor and $80,000 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 $