Question 11 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 $148,800 Parts manager's salary and benefits Office employee's salary and benefits 27,280 Other overhead 17,980 Total budgeted costs $194,060 $34,500 10,320 44,820 $89,640 The company has budgeted for 6,200 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 2020 will be $747,000. (a) Your answer is correct. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate 69.3 per hour (b) Your answer is correct. Compute the material loading percentage. Material loading percentage 921 % Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO VIDEO Attempts: 3 of 8 used (c) * Your answer is incorrect. Try again. RCE has just received a request for a bid from Buil Builders on a $1,193,000 new home. The company estimates that it would require 80 hours of labor and $38,800 of parts. Compute the total estimated bill. Total estimated bill