Sutton's Electronic Repair Shop has budgeted the followingg time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Material Loading Charges Time Charges $118,800 Shop employees' wages and benefits Parts manager's salary and benefits $25,400 21,600 15,400 Office employee's salary and benefits 27,000 17,340 Overhead (supplies, depreciation, advertising, utilities) $167,400 $58,140 Total budgeted costs Sutton's budgets 5,400 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 24% 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 willl consume 8 hours of labor and $200 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 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