Material Time Loading Charges Charges Technicians' wages and benefits $246,400 Parts manager's salary and benefits $39,200 Office employee's salary and benefits 46,200 12,310 Other overhead 23,100 24,480 Total budgeted costs $315,700 $75,990 The company desires a $35 profit margin per hour of labor and a 21.00% profit margin on parts. It has budgeted for 7,700 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $408,000. (a) Your answer is incorrect. Compute the rate charged per hour of labor. Labor rate $ per hour