Flounders Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.

			Time Charges				Material Loading Charges
	Restorers' wages and fringe benefits			$237,600
	Purchasing agent's salary and fringe benefits							$60,750
	Administrative salaries and fringe benefits			43,200				18,630
	Other overhead costs			21,600				68,040
	Total budgeted costs			$302,400				$147,420

The company anticipated that the restorers would work a total of 10,800 hours this year. Expected parts and materials were $1,134,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $70.00 and that the material loading charge was 83.00%.

(a)

Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, e.g. 10.25 and final answer to 0 decimal places, e.g. 10.)

Profit margin on labor

$enter the profit margin on labor per hour in dollars

per hour