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*Exercise 8-9 (Video) 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 Time Loading Charges Charges Technicians' wages and benefits $132,500 - Parts manager's salary and benefits - $33,200 Office employee's salary and benefits 22,790 17,620 Other overhead 14,840 43,560 Total budgeted costs $170,130 $94,380 The company has budgeted for 5,300 hours of technician time during the coming year. It desires a $38 profit margin per hour of labor and an 80% prot on parts. It estimates the total invoice cost of parts and materials in 2020 will be $726,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate $ per hour Compute the material loading percentage. Material loading percentage % RCE has just received a request for a bid from Buil Builders on a $1,200,000 new home. The company estimates that it would require 80 hours of labor and $42,000 of parts. Compute the total estimated bill. Total estimated bill $