Aldean Company wants to use absorption cost-plus pricing to set the selling price on a new product. The company plans to invest $280,000 in operating assets to produce and sell 28,000 units. Its required return on investment (ROI) in its operating assets is 18%. The accounting department has provided cost estimates for the new product as shown below:

	Per Unit	Total
Direct materials	$ 8.90
Direct labor	$ 6.90
Variable manufacturing overhead	$ 3.90
Fixed manufacturing overhead		$ 229,600
Variable selling and administrative expenses	$ 2.90
Fixed selling and administrative expenses		$ 24,640

Required:

1. What is the unit product cost for the new product? (Round intermediate calculations and final answer to 2 decimal places.)

2. What is the markup percentage on absorption cost for the new product? (Round intermediate calculations to 2 decimal places.)

3. What selling price would the company establish for its new product using a markup percentage on absorption cost? (Round intermediate calculations and final answer to 2 decimal places.)