4 of 5 Budgeted Costs for the Year 2022 Time Charges $90,000 Material Loading Charges Shop employees' wages and benefits Parts manager's salary and benefits $22,860 Office employee's salary and benefits 22,500 12,240 Overhead (supplies, depreciation, advertising, utilities) 27,000 14,400 Total budgeted costs $139,500 $49,500 -/33 !!! Flounder's budgets 4,500 hours of repair time in 2022 and will bill a profit of $10 per labor hour along with a 25% profit markup a invoice cost of parts. The estimated invoice cost for parts to be used is $90,000. On January 5, 2022, Flounder's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Flounder's estimates that this jo will consume 4 hours of labor and $180 in parts. (a) Compute the labor rate for Flounder's Electronic Repair Shop for the year 2022. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate per hour