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 Projects
		Time Charges		Material Loading Charges
Labor wages (5,900 hours)		$237,770
Supervisors salary				$61,000
Clerical and accountant wages		63,130		4,000
Irrigation supplies manager				41,000
Overhead		54,280		22,050
Total		$355,180		$128,050

Waterways has budgeted for 5,900 labor hours. It desires a $13 profit margin per hour of labor and 16% profit on materials. It estimates the total invoice cost of materials in the coming year will be$650,000.

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. (Round answer to 2 decimal places, e.g. 52.75%.)

Material loading charge.

%

Waterways has received a request for a bid to do a parkway for the city. The irrigation manager estimates that it will take about a month to complete the project and require 490 hours of labor and $82,000 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

$