ABC Company 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 materiala $ 58 per hour 2,900 hours $830,000 $ 41,500 $ 75,400 25 What should ABC Company set as the markup per dollar of materials used? Multiple Choice o 30% O 40% 35 ***