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			$288,144
	Purchasing agent's salary and fringe benefits							$71,329
	Administrative salaries and fringe benefits			65,964				20,700
	Other overhead costs			17,388				69,533
	Total budgeted costs			$371,496				$161,562

The company anticipated that the restorers would work a total of 13,800 hours this year. Expected parts and materials were $1,203,000. 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 $69.17 and that the material loading charge was 83.01%.

(a) Your answer is correct. Determine the profit margin per hour on labor. (Round answer to 2 decimal places, e.g. 10.50.) Profit margin on labor 42.25 per hour SHOW SOLUTION SHOW ANSWER LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 2 of 3 used (b) Determine the profit margin on materials. (Round answer to 2 decimal places, e.g. 10.50.) Profit margin on materials