HH Auto Repair reports the following information for the coming year.

Labor rate, including fringe benefits	$	40	per labor hour
Annual labor hours		10,400	hours
Annual materials (parts) purchases	$	2,040,000
Annual overhead costs:
Materials purchasing, handling, and storage	$	448,800
Other overhead (depreciation, insurance, taxes, rent)	$	187,200
Target profit margin (on both labor and materials)		23	%

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 four labor hours and $620 in parts? (Round your answer to 2 decimal places.)

Total Labor Rate Per Hour
Materials Markup
Total Price Quote