A small appliance manufacturer has estimated the manufacturing costs of its new product as follows:

The company's engineer estimated that the production of the new product has a 70% learning curve applied to labor required, and the time to complete the first unit was 48 labor hours. Assume that the time required to complete the 8th unit is used for cost estimation purposes. If the product is sold for $2413.05 per unit, what is the companys profit margin (%) for this product?

cost elements cost rate

direct labor 35 dolar per hour

material 310 dollar per hpur

overhead costs 90% of direct labor