Compute the labor rate for Suttons Electronic Repair Shop for the year 2017. (Round answer to 2 decimal places, e.g. 10.50.)

Compute the material loading charge percentage for Suttons Electronic Repair Shop for the year 2017.

Calculate the time-and-material price quotation for fixing the flat-screen TV. (Round answer to 2 decimal places, e.g. 10.50.)

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 Material Loading Charges $108,000 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 23,500 $25,400 13,600 16,000 $55,000 26,000 $157,500 Sutton's budgets 5,000 hours of repair time in 2020 and will bill a profit of $10 per labor hour along with a 25% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $100,000. 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 4 hours of labor and $200 in parts