Cheyenne 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 $132,000 $29.920 Parts manager's salary and benefits Office employee's salary and benefits Other overhead 33,000 13,200 16,500 36,960 Total budgeted costs $181,500 $80,080 The company has budgeted for 5,500 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 $616,000. (a) Your answer is correct. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate 71 per hour (b) Your answer is correct. Compute the material loading percentage. Material loading percentage 93 % eTextbook and Media Attempts: 1 of 5 used (c) RCE has just received a request for a bid on a security and home entertainment system from Buil Builders on a $1,056,000 new home. The company estimates that the job would require 80 hours of labor and $35,200 of parts. Compute the total estimated bill. Total estimated bill $ $