HH Auto Repair reports the following information for the coming year. $ 45 per labor hour 10,900 hours $2,090,000 Labor rate, including fringe benefits Annual labor hours Annual materials (parts) purchases Annual overhead costs: Materials purchasing, handling, and storage Other overhead (depreciation, insurance, taxes, rent) Target profit margin (on both labor and materials) $ $ 355,300 185,300 33 % 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 $670 in parts? (Round your answer to 2 decimal places.) 1. Total labor rate per hour 2. Materials markup 3. Total price quote $ 62.00 50%