Homework Question 5 of 5 3.33/5 Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benefits $210,000 Purchasing agent's salary and fringe benefits $81,940 Administrative salaries and fringe benefits 40,000 20,300 Other overhead costs 10,000 76,680 Total budgeted costs $260,000 $178,920 The company anticipated that the restorers would work a total of 10,000 hours this year. Expected parts and materials were $1,278,000. 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 and that the material loading charge was 84%. (a) Your answer is correct. Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, eg. 10.25 and final answer t