Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Rectangular Snip Budgeted Costs for Irrigation Projects Material Time Loading Charges Charges Labor wages (5,400 hours) $241,920 Supervisor's salary $59,000 Clerical and accountant wages 58,860 4,000 Irrigation supplies manager 40,000 21.740 Overhead 50,760 $351,540 $124,740 Total Waterways has budgeted for 5,400 labor hours. It desires a $15 profit margin per hour of labor and 17% profit on materials. It estimates the total invoice cost of materials in the coming year 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, eg. 52.75%.) Material loading charge eTextbook and Media 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 430 hours of labor and $79,000 of materials. Compute the total estimated bid for the parkway project. (Round answer to O decimal places, e.g. 5,275.) Total estimated bid for the parkway project $