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 $109,650 Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Overhead (supplies, depreciation, advertising, utilities) Total budgeted costs 20,400 22,950 $153,000 $25,400 14,600 16,000 $56,000 Sutton's budgets 5,100 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 26% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $100,000. 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 labor and $400 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 $ LINK TO TEXT LINK TO VIDEO Compute the material loading charge percentage for Sutton's Electronic Repair Shop for the year 2020. Material loading percentage % LINK TO TEXT LINK TO VIDEO Calculate the time-and-material price quotation for fixing the flat-screen TV. Total price of labor and material $