1) Compute the labor rate for Suttons Electronic Repair Shop for the year 2020

2) Compute the Material loading percentage

3) Compute the Total Estimated bill

Question 5 Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Time Charges $105,600 Material Loading Charges $25,400 19,200 17,650 Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Overhead (supplies, depreciation, advertising, utilities) Total budgeted costs 24,000 19,950 $148,800 $63,000 Sutton's budgets 4,800 hours of repair time in 2020 and will bill a profit of $11 per labor hour along with a 24% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $105,000. On January 5, 2020, Sutton's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton's estimates that this job will consume 9 hours of labor and $300 in parts