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6 C E assessment.education.wiley.com 6 Chapter 21 Homework Question 5 of 5 Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benets $220,500 Purchasing agent's salary and fringe benets $68,000 Administrative salaries and fringe benets 52,500 20,900 Other overhead costs 21,000 76,200 Total budgeted costs $294,000 $165,100 The company anticipated that the restorers would work a total of 10,500 hours this year. Expected parts and materials were $1,270,000. In late January, the company experienced a re in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $69 and that the material loading charge was 84%. (a) Determine the prot margin per hour on labor. (Round intermediate calculations to 2 decimal places, as. 10.25 and final answer to 0 decimal places, eg. 10.} Prot margin on labor per hour eTextbook and Media Assistance Used Save for Later Attempts: 0 of 5 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above