HH Auto Repair reports the following information for the coming year. Annual materials (parts) purchases Labor rate, including fringe benefits Annual labor hours Annual overhead costs: $ 37 per labor hour 10,100 hours $2,010,000 Materials purchasing, handling, and storage $ 381,900 Other overhead (depreciation, insurance, taxes, rent) Target profit margin (on both labor and materials) $ 181,800 21 % 1. Compute the price (rate) per hour of direct labor. (Round your answer to 2 decimal places.) 2. Compute the materials markup (in %). 3. What price should the company quote for a job requiring five labor hours and $590 in parts? (Round your answer to 2 decimal places.) 1. Total labor rate per hour 2 Materials markup 3. Total price quote %