Problem 8-3A Sutton's Electronic Repair Shop has budgeted the following time and material for 2017. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2017 Material Loading Time Charges Charges $109,548 Shop employees' wages and benefits $25,400 Parts manager's salary and benefits 14,600 20,349 Office employee's salary and benefits 16,000 overhead (supplies, depreciation, advertising, utilities) 24,327 $154,224 $56,000 Total budgeted costs Sutton's budgets 5,100 hours of repair time in 2017 and will bill a profit of $14 per labor hour along with a 26% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $100,000. On January 5, 2017, Sutton's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton's estimates that this job will consume 8 hours of labor and $350 in parts. Compute the labor rate for Sutton's Electronic Repair Shop for the year 2017. (Round answer to 2 decimal places, e.g. 10.50.) rate per hour Labour Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2017. Material loading percentage