(see image attached)

What is the rate charger per hour of labor?

a. $36.50

b. $37.00

c. $38.00

d. $41.50

P22-3A 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 Time Loading Charges Charges Shop employees' wages and benefits $108.000 Parts manager's salary and benefits $25,400 Office employee's salary and benefits 23,500 13,600 Overhead (supplies, depreciation, advertising, utilities) 26,000 16,000 Total budgeted costs $157,500 $55,000 Sutton's budgets 5,000 hours of repair time in 2017 and will bill a profit of $10 per labor hour along with a 25% 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 4 hours of labor and $200 in parts