Labor rate, including fringe benefits Annual labor hours Annual materials purchases Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $ 60 per hour 2,810 hours $842, eee $ 63,000 $ 84,300 20 % What should Yelk set as the direct labor rate per hour? Multiple Choice $108 per hour $120 per hour 590 per hour 578 per hour O S60 per hour Holo Company reported the following financial numbers for one of its divisions for the year; average total assets of $5.930,000; sales of $5,505,000; cost of goods sold of $3,290,000; and operating expenses of $1,160,000. Assume a target income of 14% of average invested assets. Compute residual income for the division: Multiple Choice $147,700. $284,300 $147,747 $105,500 $224,800