Whispering Winds's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Time Charges $268,800 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 67,200 40,320 $376,320 $75,600 23,184 70,560 $169,344 The company anticipated that the restorers would work a total of 13,440 hours this year. Expected parts and materials were $1.411.200 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 $70.00 and that the material loading charge was 83.00% (a) Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, eg. 10.25 and final answer too decimal places, eg. 10.) Profit margin on labor $ per hour