Blue Spruce Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Blue Spruce. Time Charges Material Loading Charges Technicians' wages and benefits $202,800 Parts manager's salary and benefits $39,300 Office employee's salary and benefits 39,000 14,780 Other overhead 7,800 29,120 Total budgeted costs $249,600 $83,200 The company desires a $39 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. (a) Your answer is incorrect. Compute the rate charged per hour of labor. Labor rate $ per hour