compute the labor rate charged per hour of labor

Ayayai Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2025 is available for Ayayai. The company desires a $35 profit margin per hour of labor and a 23% profit margin on parts. It has budgeted for 7,100 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2025 will be $400,000