Cheng Company reports the following information.

Direct labor rate $$50$ per DLH

Non$-$materials$-$related overhead $$30$ per DLH

Materials$-$related overhead $7\%$ of direct materials costs

Target profit margin $($on both conversion and direct materials$)30\%$

Determine its $($a$)$ time charge per hour of direct labor and $($b$)$ materials markup percentage.Cheng Company reports the following information.

Direct labor rate $$50$ per DLH

Non$-$materials$-$related overhead $$30$ per DLH

Materials$-$related overhead $7\%$ of direct materials costs

Target profit margin $($on both conversion and direct materials$)30\%$

Determine its $($a$)$ time charge per hour of direct labor and $($b$)$ materials markup percentage.