Waterways uses time and material pricing when it bids on irrigation projects.Budgeted data for the coming year are as follows.

WATERWAYS CORPORATION

Budgeted Costs for Irrigation Projects

TimeCharges MaterialLoadingCharges

Labor wages (5,600 hours) $239,120

Supervisor's salary $59,000

Clerical and accountant wages 62,160 5,000

Irrigation supplies manager 38,000

Overhead 54,880 21,080

Total $356,160 $123,080

Waterways has budgeted for 5,600 labor hours. It desires a $14 profit margin per hour of labor and 17% profit on materials. It estimates the total invoice cost ofmaterials in the coming year will be$680,000.

(a)

Compute the rate per hour of labor.(Round answer to 2 decimal places, e.g. 52.75.)

Labor rate$

per hour