Your answer is correct. Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501%.) Material loading percentage 39.375 % Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK Attempts: 7 of 8 used (c) * Your answer is incorrect. Try again. Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 43 hours of labor and $3,200 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) X Total estimated bill Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. Time Charges $192,400 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead 44,400 29,600 $266,400 $40,600 7,910 27,440 $75,950 Total budgeted costs The company desires a $34 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7,400 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $392,000. (a) Your answer is correct. Compute the rate charged per hour of labor. Labor rate 70 per hour