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Waterway Industries provides financial consulting and has collected the following data for the next years budgeted activity for a lead consultant. Consultants wages $94000 Fringe

Waterway Industries provides financial consulting and has collected the following data for the next years budgeted activity for a lead consultant.

Consultants wages $94000
Fringe benefits $30500
Related overhead $20500
Supply clerks wages $19000
Fringe benefits $5000
Related overhead $22000
Profit margin per hour $20
Profit margin on materials 15%
Total estimated consulting hours 5000
Total estimated material costs $162000

The labor rate per hour is

$49.00.

$46.10.

$48.10.

$29.00.

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