Aldean Company wants to use absorption cost-plus pricing to set the selling price on a new product. The company plans to invest $240,000 in operating assets to produce and sell 24.000 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 $8.50 Direct labor 5.6.50 Variable manufacturing overhead $ 3.50 Fixed manufacturing overhead 192,000 Variable selling and administrative expenses $2.50 Fixed selling and acinistrative expenses $ 55,000 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.) 1 Unit product cost $ 3100 2. Markup percentage on absorption cost 211% 3. Selling price per unit $ 37 62