Apple offers device service and repair through its AppleCare program Assumed data follow Direct labor rate Non-materials-related overhead 540 per direct labor hour Materials-related overhead $10 per direct labor hour 4% of direct seter Cols cost Target profit margin (on both conversion and direct materials) 40 Required: 1. Compute time charge per hour of direct labor (in $). 2. Compute materials markup per dollar of direct material cost (in %), 3. Use time and materials pricing to compute the price for a local college Apple estimates the obligation to this college will require 1.000 direct labor hours and $35,000 of direct materials cost ok hoed per hour 5 1. Time charge per hour of direct labor 2 Materials markup 3. Time and materials price