Exercise $23-15($Algo$)$ Time and materials pricing LO A$1$

HH Electric reports the following information.

$\backslash$table$[[$Direct labor rate,$er DLH$],[$Non$-$materials$-$related overhead,$$],[$Materials$-$related overhead,per DLH$],[$Target profit margin $($on both conversion and direct materials$),5\%$ of direct materials cost$]]$

a$.$ Compute the time charge per hour of direct labor.

b$.$ Compute the materials markup percentage.

c$.$ What price should the company quote for a job requiring four direct labor hours and $$592$ in materials?

a$.$ Time charge per hour of direct labor

b$.$ Materials markup

c$.$ Time and materials price