Cheng Co. reports the following information for the coming year. Labor rate, including fringe benefits 180 Annual labor hours 5,100 per labor hour hours Annual materials purchases $ 573,000 Annual overhead costs: $ Materials purchasing, handling, and storage $ 114,600 Other overhead 153,000 Target profit margin (on both labor and materials) 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 %