Reference no: EM133182427
Question - Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information:
Labor rate, including fringe benefits 95 per hour
Annual labor hours 2,850 hours
Annual materials purchase $1,406,250
Materials purchasing, handling, and storage $309,375
Overhead for depreciation, taxes, insurance, etc. $870,000
Target profit margin for both labor and materials 24%
Required - What should Shale set as the materials markup per dollar of materials used?
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