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			Material Loading Charges
	Technicians' wages and benefits	$149,943			-
	Parts manager's salary and benefits	-			$34,700
	Office employee's salary and benefits	28,069			4,780
	Other overhead	15,822			36,387
	Total budgeted costs	$193,834			$75,867

The company has budgeted for 6,620 hours of technician time during the coming year. It desires a $37.51 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2017 will be $658,000.

Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) Compute the material loading percentage. (Round answer to 2 decimal places, e.g. 10.50.) RCE has just received a request for a bid from Buil Builders on a $1,162,000 new home. The company estimates that it would require 78 hours of labor and $44,300 of parts. Compute the total estimated bill. (Round answer to 2 decimal places, e.g. 10.50.)