Heedy Manufacturing is in the process of setting a selling price on a new product it has just developed. The following data is available from the accounting department based on a budgeted volume of 100,000 units.

		Per Unit				Total
Direct materials			$30
Direct labor			$35
Variable manufacturing overhead			$30
Fixed manufacturing overhead						$250,000
Variable selling and administrative expenses			$25
Fixed selling and administrative expenses						$100,000

Heedy Manufacturing management requests the total cost per unit be used in cost-plus pricing its products. In addition, management requests that the target price be set to provide a 30% return on investment on invested assets of $1,500,000.

(a)

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Compute the markup percentage and target selling price that will allow Heedy Manufacturing to earn a 30% return on investment. (Round your answers to 2 decimal places, e.g. 10.50.)

Markup percentage		enter percentages	%
Target selling price