E8-6 Alma's Recording Studio rents studio time to musicians in 2-hour blocks. Each ses- sion 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 $2,352,000 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. od Das Per Session Total Direct materials (CDs, etc.) $ 20 Direct labor $400 Variable overhead $ 50 Fixed overhead $950,000 Variable selling and administrative expenses $ 40th Fixed selling and administrative expenses Insholm b arglo $500,000 Instructions (a) Determine the total cost per session.odo odborado (b) Determine the desired ROI per session. bl o g (c) Calculate the markup percentage on the total cost per session. 091 0 (d) Calculate the target price per session