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 1,060 sessions. The company has invested $2,297,020 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Total Per Session $20 $410 $55 Direct materials (CDs, etc.) Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $1,007,000 $40 $524,700 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, eg. 10.50.) per session e Textbook and Media Calculate the markup percentage on the total cost per session Markup percentage % per session e Textbook and Media Calculate the target price per session. (Round answer to 2 decimal places, eg. 10.50.) Target price $ per session