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

$\backslash$table$[[,60$per hour$],[,2810$ hours$],[$$$,842,000],[$$$,63,000],[$$$,84,300],[,20\%$