E8.9 (0.3), AP Service 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. Material Time Loading Charges Charges Technicians wages and benefits $150,000 Parts manager's salary and benefits $34.000 Office employee's salary and benefits 30,000 15,000 Other overhead 15,000 42,000 Total budgeted costs $195.000 S91,000 The company has budgeted for 6,250 hours of technician time during the coming year. It desires a $38 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2022 will be $700,000 Instructions a. Compute the rate charged per hour of labor. b. Compute the material loading percentage. e. RCE has just received a request for a bid on a security and home entertainment system from Buil Builders on a $1.200.000 new home. The company estimates that the job would require 80 hours of labor and $40,000 of parts. Compute the total estimated bill Use time-and-material pricing to determine bill