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Flint's Electronic Repair Shop has budgeted the following time and material for 2022. Flint's ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2022 Time Charges Material Loading Charges Shop employee's wages and benefits $ 135,700 Parts manager's salary and benefits $ 29,972 Office employees' salary and benefits 23,600 16,048 Overhead (supplies, depreciation, advertising, utilities) 35,400 18,880 Total budgeted costs $ 194,700 $ 64,900 Flint's budgets 5,900 hours of repair time in 2022 and will bill a profit of $ 10 per labor hour along with a 25% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $ 118,000. On January 5, 2022, Flint's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Flint's estimates that this job will consume 4 hours of labor and $ 220 in parts. (a) Your answer is correct. Compute the labor rate for Flint's Electronic Repair Shop for the year 2022. (Round answer to O decimal places, e.g. 10.) Labor rate $ 43 per hourPrepare a time-and-material price quotation for fixing the flat-screen TV. Flint'S ELECTRONIC REPAIR SHOP Time and Material Price Quotation Job: Fix big screen TV set v V $ $