Yelk Garage 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 purchases Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $ 70 per hour 2,820 hours $843,000 $ 64,000 $ 84,600 22 % What should Yelk set as the direct labor rate per hour? Multiple Choice $100 per hour. $70 per hour. $92 per hour