Concord's Electronic Repair Shop has budgeted the following time and material for 2022. Concord's ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2022 Time Material Loading Charges Charges $125,400 Shop employee's wages and benefits Parts manager's salary and benefits $28,956 Office employees' salary and benefits 28,500 15,504 Overhead (supplies, depreciation, advertising, utilities) 34,200 18,240 Total budgeted costs $188,100 $62,700 Concord's budgets 5,700 hours of repair time in 2022 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 $114,000. On January 5, 2022, Concord's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Concord's estimates that this job will consume 4 hours of labor and $220 in parts. Prepare a time and material price quotation for fixing the fat-screen TV Job: Fix big screen TV set Labor charges Material charges Cost of parts and materials Concord's ELECTRONIC REPAIR SHOP Time and Material Price Quotation : 220 Material loading charge Total price of labor and material 396