Pina Colada 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 $153,000 Parts manager's salary and benefits $34,680 Office employee's salary and benefits 25,500 15,300 Other overhead 12,750 42,840 Total budgeted costs $191,250 $92,820 The company has budgeted for 6,375 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 $714,000. (a) Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Labor rate $ per hour eTextbook and Media Save for Later Attempts: unlimited Submit