effield Custom Electronics (RCE) sells and installs complete security, computer, audio, and video systems for homes. On ne instructed homes it provides bids using time-and-material pricing. The following budgeted cost data are available. The company has budgeted for 6,875 hours of technician time during the coming year. It desires a $38 profit margin per hour of . and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2022 will be $770,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate perhour Attempts: 1 (b) Your answer is correct. Compute the material loading percentage. Material loading percentage % RCE has just received a request for a bid on a security and home entertainment system from Buil Builders on a $1,320,000 new home. The company estimates that the job would require 80 hours of labor and $44,000 of parts. Compute the total estimated bill