Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance. Material Loading Charges Charges Time Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs $246,400 $39,200 46,200 23,100 24,660 The company desires a $35.00 profit margin per hour of labor and a 21.00% profit margin on parts. It has budgeted for 7,700 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be $411,000 (a) Your answer is incorrect. Try again. Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50) Labor rate per hour