Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits Annual labor hours Annual materials purchase Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $ 81 per hour 3,000 hours $1,266,250 $ 253,250 $ 730,000 25 What should Shale set as the materials markup per dollar of materials used? Multiple Choice 40% 20%