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 $133,400 Parts manager's salary and benefits Office employee's salary and benefits 25,520 Other overhead 12,760 Total budgeted costs $171,680 $34,200 17,180 44,040 $95,420 The company has budgeted for 5,800 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 $734,000. Your answer is correct. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate 67.60 per hour SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO VIDEO Your answer is correct. Compute the material loading percentage. Material loading percentage 93% RCE has just received a request for a bid from Buil Builders on a $1,219,000 new home. The company estimates that it would require 80 hours of labor and $35,900 of parts. Compute the total estimated bill. Total estimated bill