Welder owns a engineering consultancy firm, Grainger Consulting, that uses time-and-material pricing when pricing jobs. Desired profit margin per labor hour is $50. The material loading charge is 20% of invoice cost. Estimated labor hours for the year are 6,250. Below are budgeted labor costs for the year. Welder prepares a price quotation for a job that requires Grainger Consulting to design a new engine for a manufacturer, Grounds Trains. Welder estimates the job will require 320 hours of labor and $6,500 in parts and materials. Compute the bill for the job that Grainger Consulting would charge Grounds Trains Engineers salaries and benefits = $450,000 Office managers salaries and benefits = $125,000 Other overhead = $75,000