Tulip Tek sells and installs security systems for homes and small offices. On newly constructed homes it provides bids using a time-and-material pricing. The following budgeted cost data are available. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs Time Charges $150,000 30,000 15,000 $195,000 What are the hourly rate and the material Material Loading Charges $34,000 15,000 42,000 $91,000 The company has budgeted 5,000 hours of technician time during the coming year. It desires a $40 profit margin per hour of labor and a 50% profit margin on parts. It estimates the total invoice cost of parts and materials for the year will be $910,000. K