Exercise 19-11 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 Pixed overhead cost Variable selling and administrative expenses Fixed selling and administrative expenses Expected production (and sales) $ 140 per unit $ 70 per unit $ 48 per unit $ 135,000 per year $ 23 per unit $220,000 per year 10,000 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 s 140.00 Direct labor 70.00 Variable overhead 48.00 Fixed overhead 135,000.00 Total product cost using absorption costing $135,258.00 Target profit 54,103.20 Target selling price $189,361.20 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted