Share Remodeling uses time and materials pricing. It reports the following information Direct labor rate Non-materials related overhead Materials-related overhead Target profit margin (both conversion and direct materials) $ 60 per 5.30 per D 10 of direct materials cost 205 The materials markup percentage is: Mul Choice 15 40 o 10% 301 Property taxes, office expenses, and insurance and depreciation on nonmanufacturing assets are included in the Multiple Choice Selling expense budget O Cash payments budget Sales budget Overhead budget General and administrative expense budget The Best step in preparing the master budget is a plan showing the planned soles units and the budgeted dolines from the sales. This plan is called that Me Choice Operating budget Merchandise purchases budget Sales budget income statement budget Business plan