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 1,000 sessions. The company has invested $2,354,000 in the studio and expects a return on investment (RoI) of 18%. Budgeted costs for the coming year are as follows. Per Session 19.66 $400.00 55.00 Total Direct materials (CDs, etc.) Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $948,000 41.00 $503,000 Determine the total cost per session. (Round answer to 2 decimal places, e.g. 10.50.) Total cost per session Determine the desired ROI per session. (Round answer to 2 decimal places, e.g. 10.50.) ROI per session Calculate the markup percentage on the total cost per session. (Round answer to 2 decimal places, e.g. 10.50.) Markup percentage 96 per session Calculate the target price per session. (Round answer to 2 decimal places, e.g. 10.50.) Target price per session