Exercise 6A-1 (Algo) Absorption Costing Approach to Cost-Plus Pricing (L06-8] Martin Company uses the absorption costing approach to cost-plus pricing. It is considering the introduction of a new producto determine a selling price, the company has gathered the following information: Number of units to be produced and sold each year 13,000 Unit product cost $ Estimated annual selling and administrative expenses $ 54,600 Estimated investment required by the company $260,000 Desired return on investment (ROI) 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