uni PLUS Kimmel, Accounting, 6e udy & Practice Gradebook ORION Do en Assignment Exercise M-8 (Part Level Submission) Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance. Material Loading Charges Charges Techniclans' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs $260,700 $40,300 10,729 15,800 29,260 $331,800 $80,289 55,300 The company desires a $38.00 profit margin per hour of labor and a 24.00% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2017 will be $418,000. dy Compute the rate charged per hour of labor. (Round answer to 2 declmal places, e.g. 10.so.) Labor rate Click if you would like to Show Work for this question: Open Show Work per hour SAVE FOR LATER Attempts: 0 of 5 used