10 Sered Ritner Corporation manufactures a product that has the following costs Direct labor Direct materials Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Dints Fixed selling and administrative expenses raw Per Unit $22.50 $14.00 Per Year $ 2.40 $449,800 $1.80 $591,900 Help Save & Exit The company uses the absorption costing approach to cost-plus pricing as described in the text. The pricing calculations are based on budgeted production and sales of 29,300 units per year. The company has invested $360,300 in this product and expects a return on investment of 9% Required: a. Compute the markup on absorption cost. (Round your intermediate and final answer to 2 decimal places.) b. Compute the selling price of the product using the absorption costing approach. (Round your intermediate and final answer to 2 decimal places.) a Markup percentage on absorption cost b. Selling price N < Prev 10 of 15 Next > DOLL