Cheng Co. reports the following information for the coming year. Labor rate, including fringe benefits 130 per labor hour Annual labor hours 4,600 hours Annual materials purchases 568,000 Annual overhead costs: Materials purchasing, handling, and storage 85, 200 Other overhead 138, 090 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 6). (a) Rate per hour of direct labor (b) Materials markup