Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Time Charges Material Loading Charges Shop employees' wages and benefits $111,690 Parts manager's salary and benefits $25,400 Office employee's salary and benefits 21,930 14,380 Overhead (supplies, depreciation, advertising, utilities) 24,480 20,400 Total budgeted costs $158,100 $60,180 Sutton's budgets 5,100 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 30% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $102,000. 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 consumne 8 hours of labor and $300 in parts. 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 Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2020. Material loading percentage % U vuugets 5,100 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 30% profit markup on the invoice cost of parts. The estimated Invoice cost for parts to be used is $102,000. 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 8 hours of tabor and $300 in parts. Compute the labor rate for Sutton's Electronic Repair Shop for the year 2020. (Round answer to 2 decimal places. n.g. 10.50.) per hour Labour rate Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2020. Material loading percentage Calculate the time-and-material price quotation for fixing the flat-screen TV. Total price of labor and material Click if you would like to show Work for this question: Open Show Work