Time Charges Material Charges Shop employees' wages and benefits $131,760 $0 Parts manager's salary and benefits 0 25,400 Office employee's salary and benefits 18,900 14,600 Invoice cost of parts used 0 100,000 Overhead (supplies, amortization, advertising, utilities) 28,620 16,000 Total budgeted costs $179,280 $156,000 Sheridan's budgets 5,400 hours of repair time in 2022 and will bill a profit of $6 per labour hour along with a 32% profit markup on the invoice cost of parts. On January 5, 2022, Sheridan's is asked to submit a price estimate to fix a 72-inch big-screen TV. Sheridan's estimates that this job will consume 22 hours of labour and $580 in parts and materials. (a) Calculate the labour rate for Sheridan's Electronic Repair Shop for the year 2022. (Round answer to 2 decimal places, e.g. 15.25.) Labour rate $ Calculate the material loading charge percentage for Sheridan's Electronic Repair Shop for the year 2022. (Round answer to 2 decimal places, e.g. 25.12.) Material loading charge %