Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Time Charges $312.900 Material Loading Charges Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs 59.600 14,900 $387,400 $81,720 21.400 77.340 $180,460 The company anticipated that the restorers would work a total of 14,900 hours this year. Expected parts and materials were $1,289,000 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 $70 and that the material loading charge was 84%. (a) Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, eg. 10.25 and final answer to decimal places, eg. 10.) Profit margin on labor $ per hour