E22-9 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-ma terial pricing. The following budgeted cost data are available. Material Loading ChargesCharges Time Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits $150,000 Other overhead Total budgeted costs 30,000 15,000 $195.000 $34.000 15,000 42,000 $91.000 The company has budgeted for 6.250 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 2017 will be $7o0,000 (a) Compute the rate charged per hour of labor (b) Compute the material loading percentage. RCE ha ust received a request for a bid from Buil Builders on a s1.200.000 new home. The company estimates that it would require s0 hours of labor and $40,000 of parts. Compute the total estimated bill