Exercise 22-9 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-material pricing. The following budgeted cost data are available. Material Loading Charges Time Charges Technicians' wages and benefits $ 168,198 Parts manager's salary and benefits - Office employee's salary and benefits 26,602 Other overhead 17,179 Total budgeted costs $ 211,979 $ 34,800 17,280 44,417 $ 96,497 The company has budgeted for 6,410 hours of technician time during the coming year. It desires a $ 38.90 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 $ 744,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rates per hour LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the material loading percentage. (Round answer to 2 decimal places, e.g. 10.50.) Material loading percentage LINK TO TEXT VIDEO: SIMILAR EXERCISE RCE has just received a request for a bid from Buil Builders on a $ 1,247,000 new home. The company estimates that it would require 82 hours of labor and $ 35,500 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.) Total estimated bills