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. $ 50 per hour 3,350 hours $825,000 $ 46,000 $ 67,000 20% What should Yelk set as the direct labor rate per hour? Select one: a. $70 per hour. Ob. $50 per hour. O c. $64 per hour. d. $100 per hour. e. $84 per hour.