Exercise $19-16($Algo$)$ Target pricing LO P$3$

Huds Incorporated reports the information below on its product. The company uses absorption costing and has a target markup of $\backslash (40\backslash \%\backslash )$ of absorption cost per unit.

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Direct materials $ $118$ per unit

Direct labor $ $ $48$ per unit

Variable overhead $ $ $26$ per unit

Fixed overhead $ $256,000$ per year

Variable selling and administrative expenses $ $12$ per unit

Fixed selling and administrative expenses $ $165,000$ per year

Units produced $32,000$ units per year

Units sold $32,000$ units per year

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Compute the target selling price per unit under absorption costing.

Note: Do not round Intermedlate calculations. Round your final answers to $2$ decimal places.