Question 2 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 $134,400 Parts manager's salary and benefits Office employee's salary and benefits 23,520 Other overhead 15,680 Total budgeted costs $173,600 $34,000 11,000 45,000 $90,000 The company has budgeted for 5,600 hours of technician time during the coming year. It desires a $39 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 $750,000. (a) Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate per hour $