Sheridan Custom Electronics (SCE) sells and installs complete security, computer, audio, and video systems for homes. On newly constructed homes it provides bids using time-and-material pricing. The following budgeted cost data are available. Time Charges Material Loading Charges Technicians' wages and benefits $165,300 - Parts manager's salary and benefits - $33,700 Office employee's salary and benefits 23,370 12,290 Other overhead 13,680 39,420 Total budgeted costs $202,350 $85,410 The company has budgeted for 5,700 hours of technician time during the coming year. It desires a $39 profit margin per hour of labor and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2020 will be $657,000.Instructions (a) Compute the rate charged per hour of labor (b) Compute the material loading percentage. (c) RCE has just received a request for a bid from Buil Builders on a $1,200,000 new home. The company estimates that it would require 80 hours of labor and $40,000 of parts. Compute the total estimated bil.