Shale Remodeling 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 purchase Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $ 87 per hour 8,300 hours $1,406,250 $ 309,375 $ 937,900 20 % What should Shale set as rate per hour of labor hour? Multiple Choice O $153 O O $220 O $200 O $260. O $240