Pharoah Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Pharoah: Time Charges Material Loading Charges Technicians' wages and benefits $218,950 Parts manager's salary and benefits $41,170 Office employee's salary and benefits 52,850 13,425 Other overhead 15,100 24,165 Total budgeted costs $286,900 $78,760 The company wants a $35 profit margin per hour of labour and a 25% profit margin on parts. It has budgeted for 7,550 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $358,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged $ 73 per hour