Exercise 8-8 (Part Level Submission) Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance Material Loading Charges Charges $237,000 Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits 71,100 Other overhead Total budgeted costs $39,100 9,169 19,300 $67,569 $347,600 The company dea es a $3400 profit margin per hour of labor and a 21.00% pro t margin on parts. It has budgeted for 7,900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be $386,000. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50 per hour Attempts: 0 of 2 use SAVE FOR LATER