Marigold's ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2022 Time Charges Material Loading Charges $103,400 Shop employee's wages and benefits Parts manager's salary and benefits $23,876 Office employees' salary and benefits 23,500 12,784 Overhead (supplies, depreciation, advertising, utilities) 28,200 15,040 Total budgeted costs $155,100 $51,700 Marigold's budgets 4,700 hours of repair time in 2022 and will bill a profit of $10 per labor hour along with a 25% profit marku invoice cost of parts. The estimated invoice cost for parts to be used is $94,000. On January 5, 2022, Marigold's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Marigold's estimates that thi will consume 4 hours of labor and $180 in parts. Compute the labor rate for Marigold's Electronic Repair Shop for the year 2022. (Round answer to O decimal places, e.g. 10.) Labor rate $ per hour