(a)^ (b) Compute the material loading percentage (c) RCE has received a request for a bid from Buil Builders on a $1,200,000 new home. The company estimates that it would require 80 hours of labor and $40000 of parts. Compute the total estimated bill.

Sheffield Custom Electronics (SCE) sells and installs complete security.computer, audio and video systems for homes. On newly constructed homes it provides bids using time-and-material pricing. The following budgeted cost data are available. Time Material Loading Charges Charges $147,500 Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 26,550 12,390 $186.440 $33.800 13.450 40.500 $87,750 The company has budgeted for 5,900 hours of technician time during the coming year. It desires a $37 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2020 will be $675,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, eg. 10.50.) Labor rate $ per hour