Material Time Loading Charges Charges Restorers' wages and fringe benefits $282,240 Purchasing agent's salary and fringe benefits $66,150 Administrative salaries and fringe benefits 58,800 20.286 Other overhead costs 23,520 86,436 Total budgeted costs $364,560 $172,872 The company anticipated that the restorers would work a total of 11,760 hours this year. Expected parts and materials were $1,234,800. 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 labori $ per hour