Crane Painting Service has budgeted the following time and material for 2022: BUDGETED COSTS FOR 2022 Time Charges Material Charges Painters' wages and benefits $37,440 Service manager's salary and benefits $23,920 Office employee's salary and benefits 12,480 3,120 Cost of paint 52,000 Overhead (supplies, utilities, etc.) 16,640 8,840 Total budgeted costs $66,560 $87,880 Crane budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Crane is asked to prepare a price estimate to paint a small building. Crane estimates that this job will take 12 labor hours and $520.00 in paint. (a1) Compute the labor rate for 2022. (Round answer to 2 decimal places, e.g. 52.75.)Crane budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Crane is asked to prepare a price estimate to paint a small building. Crane estimates that this job will take 12 labor hours and $520.00 in paint. (a1) X Your answer is incorrect. Compute the labor rate for 2022. (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $ 9.36