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 $140,700 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 30,820 18,760 $190,280 $33,200 19,300 45,000 $97,500 The company has budgeted for 6,700 hours of technician time during the coming year. It desires a $39 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 $750,000 Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rates per hour LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the material loading percentage Material loading percentage LINK TO TEXT VIDEO: SIMILAR EXERCISE RCE has just received a request for a bid from Buil Builders on a $1,222,000 new home. The company estimates that it would require 80 hours of labor and $43,900 of parts. Compute the total estimated bill. Total estimated bill Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR EXERCISE