13) Yelk Garage uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits Annual labor hours Annual materials purchases Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $ 50 per hour 3,350 hours $ 825.000 $ 46,000 $ 67,000 20% What should Yelk set as the direct labor rate per hour? A) $70 per hour B) $50 per hour C) $64 per hour D) $100 per hour E) 884 per hour