Weng CPAs charges for their services based on the following: Labor rate Materials narkup $170 per hour 35% 24 Using time and materials pricing, what is the total price for services requiring 8 labor hours and $60 of materials? 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 80 per hour 2,900 hours $1,256,250 $ 251, 250 $ 720,000 25 % What should Shale set as the materials markup per dollar of materials used