Hat Tricks Company (HTC) is a Buffalo, New York, manufacturer of hats and gloves. Recently, me company purchased new machine to aid in producing the hat product lines. Production efficiency on the new machine increases with the workforce experience. It has been shown that as cumulative output on the new machine increases, average labor time per unit decreases up to the production of at least 3,200 units. As HTC's cumulative output doubles from a base of 100 units produced, the cumulative average labor time per unit . declines by a learning rate of 80%. HTC has developed a new style of men's hat to be produced on the new machine. One hundred of these hats can be produced ina total of 20 labor hours. All other direct costs to produce each hat are $19 per hat, excluding direct labor cost. Direct labor cost per hour is $60. Fixed costs are $8,000 per month, and HTC has the capacity to produce 3,200 hats per month. Required: HTC plans to set the selling price for the new men's hat at 200% of direct production cost lfthe company is planning to sel-00 hats what is the selling price? If the plan is to sell 800 hats, what should be the selling price? (Do not round intermediate calculetions. Round your answers to 2 decimal places.) Selling Price For 100 hats For 800 hats