Wassons Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.

			Time Charges				Material Loading Charges
	Restorers' wages and fringe benefits			$231,000
	Purchasing agent's salary and fringe benefits							$81,520
	Administrative salaries and fringe benefits			52,500				20,000
	Other overhead costs			10,500				76,140
	Total budgeted costs			$294,000				$177,660

The company anticipated that the restorers would work a total of 10,500 hours this year. Expected parts and materials were $1,269,000. In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $71 and that the material loading charge was 83%.

(a)

Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, e.g. 10.25 and final answer to 0 decimal places, e.g. 10.)

Profit margin on labor

$Type your answer here

per hour