Cheyenne's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are...

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Cheyenne's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benefits $253,440 Purchasing agent's salary and fringe benefits $59,400 Administrative salaries and fringe benefits 52,800 18,216 Other overhead costs 21,120 77,616 Total budgeted costs S327,360 $155,232 The company anticipated that the restorers would work a total of 10,560 hours this year. Expected parts and materials were $1,108,800. 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 S70.00 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, e.g. 10.25 and final answer to 0 decimal places, e.g. 10.) Profit margin on labor $enter the profit margin on labor per hour in dollars per hour Cheyenne's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. Material Time Loading Charges Charges Restorers' wages and fringe benefits $253,440 Purchasing agent's salary and fringe benefits $59,400 Administrative salaries and fringe benefits 52,800 18,216 Other overhead costs 21,120 77,616 Total budgeted costs S327,360 $155,232 The company anticipated that the restorers would work a total of 10,560 hours this year. Expected parts and materials were $1,108,800. 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 S70.00 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, e.g. 10.25 and final answer to 0 decimal places, e.g. 10.) Profit margin on labor $enter the profit margin on labor per hour in dollars per hour

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