estion 8 of 9 View Policies Current Attempt in Progress -/1 E Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. Material: Time Loading Charges Charges Technicians' wages and benefits $198,800 Parts manager's salary and benefits $39,800 Office employee's salary and benefits 56,800 9.700 Other overhead 7,100 28,000 Total budgeted costs $262,700 $77,500 The company desires a $35 profit margin per hour of labor and a 23.00% 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 2020 will be $400,000 Compute the rate charged per hour of labor. Labor rate per hour