Hello,

Can someone please help me with this question and also add in the steps and formulas?

Thank you so much, greatly appreciated :)

Wasson's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. The company anticipated that the restorers would work a total of 11,800 hours this year. Expected parts and materials were $1,281,000 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 and that the material loading charge was 84%. (a) Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, es. 10.25 and final answer to 0 decimal places, e.g. 10.) The company anticipated that the restorers would work a total of 11,800 hours this year. Expected parts and materials were $1,281,000. 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 and that the material loading charge was 84%. (a) Determine the profit margin per hour on labor, (Round intermediate calculations to 2 decimal places, ez. 10.25 and final answer to 0 decimal ploces, e.g. 10.) Profit margin on labor $ eTextbook and Media Attempts: 0 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above