Classic automobiles to showroom status. Budgeted data for the current year are as follows. Time Material Loading Charges Charges Restorers' wages and fringe benefits $294,000 Purchasing agent's salary and fringe benefits $69,150 Administrative salaries and fringe benefits 70,000 20,800 Other overhead costs 28,000 77,100 Total budgeted costs $392,000 $167,050 The company anticipated that the restorers would work a total of 14,000 hours this year. Expected parts and materials were $1,285,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $71 and that the material loading charge was 84%. (a) Your answer is incorrect. Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, eg. 10.25 and final answer to 0 decimal places, eg. 10) Profit margin on labor 199. per hour