Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows Time Charges $241,500 Material Loading Charges $63,310 Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs 57.500 20.900 23,000 72,180 $322,000 $156,390 The company anticipated that the restorers would work a total of 11,500 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 $70 and that the material loading charge was 83% (a) Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, c.8. 10.25 and final answer to 0 decimal places, e.g. 10.) (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 $ per hour e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above (c) The parts of this question must be completed in order. This part will be available when you complete the part above