HH Auto Repair reports the following information for the coming year. Labor rate, including fringe benefits $ 51 per labor hour Annual labor hours 11, 500 hours Annual materials (parts) purchases $2 , 150, 000 Annual overhead costs: Materials purchasing, handling, and storage $ 301 , 000 Other overhead (depreciation, insurance, taxes, rent) S 161, 000 Target profit margin (on both labor and materials ) 36 8 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 $730 in parts? (Round your answer to 2 decimal places.) 1. Total labor rate per hour 2. Materials markup % 3. Total price quote