Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance. Time Charges Material Loading Charges Technicians' wages and benefits $211,700 - Parts manager's salary and benefits - $39,300 Office employee's salary and benefits 43,800 10,777 Other overhead 29,200 28,980 Total budgeted costs $284,700 $79,057 The company desires a $36.00 profit margin per hour of labor and a 22.00% 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 2017 will be $414,000. Compute the rate charged per hour of labor.