Current Attempt in Progress Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. The company desires a $30 profit margin per hour of labor and a 20.00% profit margin on parts. It has budgeted for 7,600 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $400,000. (a) Compute the rate charged per hour of labor. Labor rate $ per hour eTextbook and Media Attempts: unlimited (b) Compute the material loading percentage. (Round answer to 3 decimal places, e.g. 10.501\%.) Material loading percentage % Pace Corporation has requested an estimate to rebuild its spot welder. Second Chance estimates that it would require 40 hours of labor and $2,000 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) Total estimated bill