14) 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 $ 41,250 $ 67,000 20% What should Yelk set as the materials markup per dollar of materials used? A) 25% B) 5% C) 20% D) 35% E) 30%