Exercise 22-3 (Part Level Submission) Hannon Company makes swimsuits and sells these suits directly to retailers. Although Hannon has a variety of suits it does not make the All-Body suit used by highly skilled swimmers. The market research department believes that a strong market exists for this type of suit. The department indicates that the All-Body suit would sell for approximately $106. Given its experience, Hannon believes the All-Body suit would have the following manufacturing costs. Direct materials Direct labor Manufacturing overhead Total costs $25 28 48 $101 ? (a) Assume that Hannon uses cost-plus pricing, setting the selling price 18% above its costs, what would be the price charged for the All-Body swimsuit? (Round answer to 2 decimal places, e.g. 10.50.) Selling price