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Culver Custom Electronics (RCE) sells and installs complete security, computer, audio, and video systems for...

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Accounting

Culver Custom Electronics (RCE) 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.
The company has budgeted for 7,250 hours of technician time during the coming year. It desires a $38 profit margin per hour of labor
and an 80% profit on parts. It estimates the total invoice cost of parts and materials in 2022 will be $812,000.
(a)
Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g.10.50.)
Labor rate $, per hour
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