Novak Custom Electronies (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. The company has budgeted for 6,250 hours of technician time during the comingyear. It desires a $38 profit margin per hour of labor and an B4\% profit ori parts. It estimates the total imvoice cost of parts and materials in 2022 will be $700,000. Compute the material loading percentage. Material loading percentage