Exercise 167 Silver Spoon Service repairs commercial food preparation equipment. The following budgeted cost data is available for 2016: Time Charges $500,000 Material Charges Technicians' wages and benefits Parts manager's salary and benefits Office manager's salary and benefits Other overhead Total budgeted costs 112,000 48,000 $660,000 $72,000 18,000 135,000 $225,000 Silver Spoon has budgeted for 10,000 hours of technician time during the coming year. It desires a $54 profit margin per hour of labor and a 40% profit margin on parts. Silver Spoon estimates the total invoice cost of parts and materials in 2016 wll be $500,000 Compute the rate charged per hour of labor. Rate charged per hour of labor g