Concord Corporation needs to set a target price for its newly designed product M14-M16. The follorking data relate to this new product. Per Unit Total Direct materials $32 Direct labor $44 $8 $1,641,600 Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses $6 $ 1,094,400 These costs are based on a budgeted volume of 91 200 units produced and sold each year Concord uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40% Compute the target selling price for M14-M16. Target selling price per unit $ eTextbook and Media Save for Later Attemnton