Exercise 13A-1 (Algo) Absorption Costing Approach to Cost-Plus Pricing (LO13-8) Martin Company uses the absorption costing approach to cost-plus pricing. It is considering the introduction of a new product. To determine a selling price, the company has gathered the following information: Nanber of units to be produced and sold each year Unit product cont. Estimated annual selling and administrative expenses Estimated investment required by the company Desired return on investment (ROI) 15,500 $ 14 $ 23,400 $ 200,000 100 Required: 1 Compute the markup percentage on absorption cost required to achieve the desired ROI. 2. Compute the selling price per unit. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) 1. Markup percentage on absorption cost 2 Selling price per unit %