Rey 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. Time Charges $166,400 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 30,080 14,720 $211,200 $34,700 6,880 1,580 $83,160 The company has budgeted for 6,400 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 2020 will be $693,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, eg. 10.50.) Labor rate $ per hour Compute the material loading percentage. Material loading percentage % RCE has just received a request for a bid from Buil Builders on a $1,242,000 new home. The company estimates that it would require 80 hours of labor and $38,200 of parts. Compute the total estimated bill. Total estimated bill $