Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. Material Time Loading Charges Charges Technicians' wages and benefits $189,800 Parts manager's salary and benefits $40,500 Office employee's salary and benefits 36,500 9,940 Other overhead 14,600 24,960 Total budgeted costs $240,900 $75,400 The company desires a $36 profit margin per hour of labor and a 29.00 % profit margin on parts. It has budgeted for 7,300 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $416,000. (a) Compute the rate charged per hour of labor. Labor rate $ eTextbook and Media Save for Later per hour Attempts: 0 of 5 used Submit Answer