Question 32 Padong Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 are available for Padong: Material Loading Charges Time Charges $240,640 Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead 67,680 22,560 $330,880 $44,398 13,423 28,910 $86,730 Total budgeted costs The company wants a $40 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,520 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2020 will be $413,000. (a) Calculate the rate charged per hour of labour. Rate charged $ per hour