Computer Repair Inc. uses time and materials pricing, and each year it reviews its rates in light of the actual costs incurred in the prior

below

ustomers were billed for $20,000$ hours of repair work last year.

The company has a target profit of $$10$ per hour of repair service time and a target profit of $40\%$ of the invoice cost of parts used

Management feels these rates may now be inadequate since coSts have risen somewhat over the last year.

During the past year, the company billed repair service time at $$50$ per hour and added a materials loading charge of $40\%$ to parts,.

Ja$.$ The rate that would be charged per hour of repair service time using time and materi$$ls pricing.

Cost of repair service time

Cost of materials pricing

$41$per hour

$67|$per hour

Repair technicians$-$wages

Parts manager$-$salary

Repair service manager$-$salary

Repairs and parts assistant$-$salary

Retirement benefits $(20\%$ of salaries and wages,

Health insurance $(5\%$ of salaries and wages$)$

Utilities

Truck operating costs

Property taxes

Liability and fire insurance

Supplies

Rent$-$building

Depreciation$-$trucks and equipment

Invoice cost of parts used

Total costs for the year

Required:

h$.$ Using the above data, compute the f