108 Remaining Time: 1 hour, 56 minutes, 27 seconds. Question Completion Status: 2 3 4 5 Moving to another question will save this response. Question 3 For many years, Manama Corporation has used a straightforward absorption costing approach to co plus prong with a map pt 2 lost considerable business to foreign competitors that have become very aggressive in the marketplace. These terms appear to be uning tept cond Manama Corporation's product no. 700, which has the following unt cost characteristics direct materials, Mdredbo 10, mading ne selling and administrative expenses, $40. The going market price for an identical product of identical quality is 200, which is below whil Mera Copo charging Required: a) What is Manama Corporation's selling price for product no 700 under its current absorption costing approach to cost plus prog? b) If Manama Corporation used target costing for item no. 700, what should have been ts target cost per unit if the company dess meet mak maintain its current rate of profit on sales (2 marks) 2- LX0BQ- 10pt For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) Paragraph V Arial BIUS