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 $204,400 Parts manager's salary and benefits $40,700 Office employee's salary and benefits 58,400 12.340 Other overhead 29,200 20,800 Total budgeted costs $292,000 $73,840 The company desires a $35 proht margin per hour of labor and a 26.00% 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) Your answer is correct. Compute the rate charged per hour of labor. Labor rate $ 75 per hour