BACK NEXT Exercise 21-09 Rey Custom Electronics (RCE) 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. Material Time Loading Charges Charges Technicians' wages and benefits $100,000 Parts manager's salary and benefits $33,000 Office employee's salary and benefits 20,000 6,000 Other overhead 10,000 39,000 Total budgeted costs $130,000 $78,000 The company has budgeted for 5,000 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 $650,000 Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10,50.) Labor rate per hour Compute the material loading percentage Material loading percentage LINK 10 TEXT LINK TO VIDEO RCE has just received a request for a bid from Bull Builders on a $1,150,000 new home. The company estimates that it would require 80 hours of labor and $35,000 of parts. Compute the total estimated bill Total estimated bill Click if you would like to Show Work for this question: Open Show Work