Blue Spruce'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 1,040 sessions. The company has invested $2,344,160 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Per Session Total $20 Direct materials (CDs, etc.) Direct labor $410 Variable overhead $50 $988,000 Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 35 $514,800 (a) Your answer is correct. Determine the total cost per session. Total cost $ 1960 per session 84% education.wiley.com Your answer is correct. Determine the total cost per session Total cost 1960 per session e Textbook and Media Attempts: 2 of 5 used (b) Your answer is incorrect. Determine the desired ROI per session. (Round answer to 2 decimal places, e.g. 10.50.) ROI $ per session