Exercise 06-11 Absorption costing and product pricing LO P4 Sirhuds Inc, a maker of smartwatches reports the information below on its product. The company uses absorption costing and has a target markup of 40% of absorption cost per unit. Direct materials cost Direct labor cost Variable overhead cost Fixed overhead cost Variable selling and administrative expenses Fixed selling and administrative expenses Expected production and sales) $ 120 per unit $ 50 per unit $ 28 per unit $ 255,000 per year $ 13 per unit $ 170,00 per year 30,000 units per year Compute the target selling price per unit under absorption costing (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Per unit Direct materials Direct labor Variable overhead Fixed overhead WO: OUI UVEREGULUSE Fixed overhead cost Variable selling and administrative expenses Fixed selling and administrative expenses Expected production (and sales) LUCIA $ 255,000 per year $ 13 per unit $ 170,000 per year 30,000 units per year Compute the target selling price per unit under absorption costing. (Do not round intermediate calculations, Round your final answer to 2 decimal places.) Per unit Direct materials Direct lobor Variable overhead Fixed overhead Total product cost using absorption costing Target profit Target selling price