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	$132,600			-
	Parts manager's salary and benefits	-			$33,100
	Office employee's salary and benefits	25,500			18,840
	Other overhead	13,770			44,520
	Total budgeted costs	$171,870			$96,460

The company has budgeted for 5,100 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 $742,000.

Questions:

Compute the rate charged per hour of labor. Labor rate $____ per hour

Compute the 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 $40,000 of parts. Compute the total estimated bill.