Exercise $23-15($Algo$)$ Time and materials pricing LO A$1$

$HH$ Electric reports the following information.

Direct labor rate

Non$-$materials$-$related overhead

Materials$-$related overhead

Target profit margin $($on both conversion and direct materials$)$

$$87$ per DLH

$$53$ per DLH

$5\%$ of direct materials cost

$20\%$

a$.$ Compute the time charge per hour of direct labor.

b$.$ Compute the materials markup percentage.

c$.$ What price should the company quote for a job requiring four direct labor hours and $$656$ in materials?

$\backslash$table$[[$a$.$ Time charge per hour of direct labor,$],[$b$.$ Materials markup,$],[$c$.$ Time and materials price,$]]$