Wildhorse Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Wildhorse:

		Time Charges		Material Loading Charges
Technicians wages and benefits		$208,440
Parts managers salary and benefits				$45,305
Office employees salary and benefits		38,600		12,155
Other overhead		23,160		33,150
Total budgeted costs		$270,200		$90,610

The company wants a $30 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,720 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $442,000.

(a)

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Your answer is correct.

Calculate the rate charged per hour of labour.

Rate charged

$enter the rate charged in dollars per hour per hour

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(b)

Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%.)

Material loading percentage

enter the material loading percentages rounded to 3 decimal places %