The following budgeted cost Time Loading Charges Charges Technicians' wages and $266,000 benefits Parts manager's salary and $40,000 benefits Office employee's salary and 45,600 10,947 benefits Other overhead 22,800 28,210 Total budgeted costs $334,400 $79,157 The company desires a $35.00 profit margin per hour of labor and a 26.00% profit margin on parts. It has budgeted for 7,600 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be $403,000. (a) Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g. 10.50.) $ Labor rate per hour