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	$150,000			-
	Parts manager's salary and benefits	-			$34,000
	Office employee's salary and benefits	30,000			15,000
	Other overhead	15,000			42,000
	Total budgeted costs	$195,000			$91,000

The company has budgeted for 6,250 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 2017 will be $700,000.

Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.)

Compute the material loading percentage. (Round answer to 2 decimal places, e.g. 10.50.)

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. (Round answer to 2 decimal places, e.g. 10.50.)