Glover Inc. manufactures Product B, incurring variable costs of $15.00 per unit and fixed costs of $70,000. Glover desires a profit equal to a 12% rate of return on assets. Assets of $785,000 are devoted to producing Product B, and 100,000 units are expected to be produced and sold.

a.Compute the markup percentage using the total cost concept.

%

b.Compute the selling price of Product B. Round your answer to two decimal places.

$