Exercise 4-11A (Algo) How the allocation of fixed cost affects a pricing decision LO 4-3 Franklin Manufacturing Company expects to make 30,200 chairs during the Year 1 accounting period. The company made 4,400 chairs in January. Materials and labor costs for January were $17,200 and $25,400, respectively. Franklin produced 1,500 chairs in February. Material and labor costs for February were $8,600 and $12,900, respectively. The company paid the $422,800 annual rental fee on its manufacturing facility on January 1 , Year 1 . The rental fee is allocated based on the total estimated number of units to be produced during the year. Required Assuming that Franklin desires to sell its chairs for cost plus 40 percent of cost, what price should be charged for the chairs produced in January and February? Note: Round intermediate calculations and final answers to 2 decimal places