Sutton's Electronic Repair Shop has budgeted the following time and material for 2022 Sutton's budgets 5,000 hours of repair time in 2022 and will bill a profit of $10 per labor hour aiong with a 25% profit markup on the imvoice cost of parts. The estimated invoice cost for parts to be used is $100,000 On January 5, 2022. Sutton's is asked to submit a price estimate to fixa 72-inch flat-screen TV. Sutton's estimates that this job will consume 4 hours of labor and $200 in parts. (a) Compute the iabor rate for Sutton's Electronic Repair Shop for the year 2022. (Round answer to O decimal ploces es, 10) Labor rate 5 perhour Compute the material loading charge percentage for 5 utton's Electronic Repair shop for the year 2022. Materialloading percentage oy eTextbook and Media Attempts: 0 of 3 us (c) Prepare a time-and-material price quotation for fixing the flat-screen TV