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.

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 $ 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) Your answer is correct. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate 69.39 per hour