Alma's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,230 sessions. The company has invested $2,348,685 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Per Session Total Direct materials (CDs, etc.) $20 Direct labor $415 Variable overhead $ 50 Fixed overhead $1,174,650 Variable selling and administrative expenses $ 45 Fixed selling and administrative expenses $645,750 Determine the total cost per session. Total cost $ per session e Textbook and Media Determine the desired ROI per session. (Round answer to 2 decimal places, e.g. 10.50.) ROI $ per session e Textbook and Media Calculate the markup percentage on the total cost per session. Markup percentage % per session e Textbook and Media