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.

		Time Charges			Material Loading Charges
	Technicians' wages and benefits	$161,000			-
	Parts manager's salary and benefits	-			$33,100
	Office employee's salary and benefits	33,600			7,760
	Other overhead	15,400			40,860
	Total budgeted costs	$210,000			$81,720

The company has budgeted for 7,000 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 $681,000.

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 $1,172,000 new home. The company estimates that it would require 80 hours of labor and $41,200 of parts. Compute the total estimated bill.

Total estimated bill

$___