Cheng Co. reports the following information for the coming year. $ 100 per labor hour 4,300 hours 565,000 Labor rate, including fringe benefits Annual labor hours Annual materials purchases Annual overhead costs: Materials purchasing, handling, and storage Other overhead Target profit margin (on both labor and materials) $ $ $ 67,800 129,000 30 % Determine its (a) pricing (rate) per hour of direct labor (in $) and (b) materials markup (in %). (a) Rate per hour of direct labor (b) Materials markup %