1) Compute the labor rate for 2022

2) Compute the material loading charge rate for 2022

3) Prapare a time-and-material price estimate for painting the building

Cullumber Painting Service has budgeted the following time and material for 2022: BUDGETED COSTS FOR 2022 Time Charges Material Charges Painters' wages and benefits $38,160 Service manager's salary and benefits $24,380 Office employee's salary and benefits 12,720 3,180 Cost of paint 53,000 Overhead (supplies, utilities, etc.) 16,960 9,010 Total budgeted costs $67,840 $89,570 Cullumber budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Cullumber is asked to prepare a price estimate to paint a small building. Cullumber estimates that this job will take 12 labor hours and $530.00 in paint