Current Attempt in Progress Second Chance Welding rebuids spot welders for manufacturers. The following budgeted cost data for 2020 is awailable for 5 econd Chance. The company desires a \$38 profit margin pee hour of labor and a 24.00% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming vear, and estimates that the total imvoice cost of parts and materials in 2020 will be $416,000. Compute the rate charged per hour of labor. Labor rate perhour