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.

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.)

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 Time Charges Charges $ 149,753 Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 27,244 17,712 $ 194,709 $ 34,500 10,320 43,774 $ 88,594 The company has budgeted for 6,150 hours of technician time during the coming year. It desires a $ 37.73 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 $ 747,000 (a) Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate s per hour