Hummingbird Company uses the product cost method of applying the cost$-$plus approach to product pricing. The costs and expenses of producing $25,000$ units of Product K are as follows:

Variable costs per unit:

Line Item Description Amount

Direct materials $$2\mathrm{.}50$

Direct labor $4\mathrm{.}25$

Factory overhead $1\mathrm{.}25$

Selling and administrative expenses $0\mathrm{.}50$

Total $8\mathrm{.}50$

Fixed costs:

Line Item Description Amount

Factory overhead $$25,000$

Selling and administrative expenses $17,000$

Hummingbird desires a profit equal to a $5\%$ return on invested assets of $$642,500.$

a$.$ Determine the amount of desired profit from the production and sale of Product K$.$

fill in the blank $1$ of $1$$

b$.$ Determine the total manufacturing costs and the cost amount per unit for the production of $25,000$ units of Product K$.$

Total manufacturing costs fill in the blank $1$ of $2$$

Cost amount per unit fill in the blank $2$ of $2$$

c$.$ Determine the markup percentage for Product K$.$ Round your answer to one decimal place.

fill in the blank $1$ of $1$

$\%$

d$.$ Determine the selling price of Product K$.$ Round your answer to two decimal places.

fill in the blank $1$ of $1$$