Question 5 Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. Material Loading Charges SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Time Charges Shop employees' wages and benefits $105,600 Parts manager's salary and benefits Office employee's salary and benefits 19,200 Overhead (supplies, depreciation, advertising, utilities) 24.000 Total budgeted costs $148,800 $25,400 17,650 19,950 $63,000 Sutton's budgets 4,800 hours of repair time in 2020 and will bill a profit of $11 per labor hour along with a 24% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $105,000. On January 5, 2020, 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 9 hours of labor and $300 in parts. (a) Compute the labor rate for Sutton's Electronic Repair Shop for the year 2020. (Round answer to 2 decimal places, e.g. 10.50.) Labour rate per hour $ By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER (b) The parts of this question must be completed in order. This part will be available when you complete the part above. The parts of this question must be completed in order. This part will be available when you complete the part above