QS 23-21 Time and materials pricing LO A1 Cheng Co. reports the following information for the coming year. Labor rate, including fringe benefits Annual labor hours 200 per labor hour 5,300 hours 575,000 Annual materials purchases Annual overhead costs: Materials purchasing, handling, and storage Other overhead $ 126,500 159,000 Target profit margin (on both labor and materials) 30 Determine its (a) pricing (rate) per hour of direct labor (in $) and (b) materials markup (in %) Rate per hour of direct labor Materials markup (a) (b) Check my work QS 23-18 Product pricing using variable costs LO P6 GoSnow sells snowboards. Each snowboard requires direct materials of $123, direct labor of $48, and variable overhead of $58. The company expects fixed overhead costs of $636,096 and fixed selling and administrative costs of $341,000 for the next year. The company has a target profit of $265,000. It expects to produce and sell 11,300 snowboards in the next year. Compute the selling price using the variable cost method. (Do not round your intermediate calculations. Round your final answer to 2 decimal places.) per unit Selling price Check my work QS 23-19 Target costing LO P6 Raju is a price-taker in a competitive product market.. The current market price is $86 per unit, and Raju's desired profit is 25% of market price. Using target costing, what is the highest Raju's costs can be? (Round your answer to 2 decimal places.) Target cost