Waterways uses time and material pricing when it bids on irrigation projects.Budgeted data for the coming year are as follows.

WATERWAYS CORPORATION

Budgeted Costs for Irrigation ProjectsTime

ChargesMaterial

Loading

ChargesLabor wages (5,700hours)

$238,260Supervisor's salary

$58,000

Clerical and accountant wages

58,1404,000

Irrigation supplies manager

38,000Overhead

55,86018,800Total

$352,260$118,800

Waterways has budgeted for5,700labor hours. It desires a $14profit margin per hour of labor and18% profit on materials. It estimates the total invoice cost ofmaterials 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

Material loading charge

Waterways has received a request for a bid to do parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 450 hours of labor and $79,000 of materials Compute the total estimated bid for the parkway project. (Round answer to 0 decimal places, e.g. 5,275.)

Total estimated bid for the parkway project $