1) LABOR rate 2) Material loading % 3) total estimated bill

Exercise 8-8 (Part Level Submission) Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2017 is available for Second Chance. Material Time Charges Charges Technicians' Parts manager's salary and benefits Office employee's salary and benefits44,400 Other overhead Total budgeted costs wages and benefits $192,400 $40,600 7,321 27,230 S75,151 29,600 $266,400 The company desires a S34.00 profit margin per hour af labor and a 20.00% profit margin on parts. It has budgeted for 7,400 hours af repair time in the coming year and estimates that the total invoice oast af parts .nd materials in 2017 will $309,000 Compute the rate charged per hour of labor. (Round answer to 2 decimal places, e.g.10.50.) Lebor rate per hour