Rehab/Remodel: % of Cost that should be Labor vs Materials

[Derrick StClair]

Hey BP team,

Currently doing a remodel of a property I own in San Mateo but the contractor just sent an overall budget for everything but didn't break down labor vs materials. Just wondering if you're aware of some standards "rule of thumb" for what an overall construction budget should be for Labor vs Materials as a percentage. 

For example: Kitchen Remodel, bathrooms, sand floors, recessed lighting, etc cost = $120k (what percent of that should be materials such as cabinets, fixtures, recessed lighting, etc)