Blue Spruce 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.

		Time Charges			Material Loading Charges
	Technicians' wages and benefits	$123,000			-
	Parts manager's salary and benefits	-			$27,880
	Office employee's salary and benefits	20,500			12,300
	Other overhead	10,250			34,440
	Total budgeted costs	$153,750			$74,620

The company has budgeted for 5,125 hours of technician time during the coming year. It desires a $38 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2022 will be $574,000.

(a)

Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.)

Labor rate

$enter the labour rate per hour in dollars rounded to 2 decimal places

per hour

(b)

Compute the material loading percentage.

Material loading percentage

enter the material loading percentages