Inc. recently began production of a new product, flat panel displays, which required the investment of $1,300,000 in assets. The costs of producing and selling 5,000 units of flat panel displays are estimated as follows:

1	Variable costs per unit:
2	Direct materials	$118.00
3	Direct labor	32.00
4	Factory overhead	51.00
5	Selling and administrative expenses	36.00
6	Total	$237.00
7	Fixed costs:
8	Factory overhead	$250,000.00
9	Selling and administrative expenses	155,000.00

Inc. is currently considering establishing a selling price for flat panel displays. The president of Displays has decided to use the cost-plus approach to product pricing and has indicated that the displays must earn a 13% rate of return on invested assets.

	Required:
1.	Determine the amount of desired profit from the production and sale of flat panel displays.
2.	Assuming that the product cost concept is used, determine (a) the cost amount per unit, (b) the markup percentage, and (c) the selling price of flat panel displays.
3.	(Appendix) Assuming that the total cost concept is used, determine (a) the cost amount per unit, (b) the markup percentage (rounded to two decimal places), and (c) the selling price of flat panel displays (rounded to nearest whole dollar).
4.	(Appendix) Assuming that the variable cost concept is used, determine (a) the cost amount per unit, (b) the markup percentage (rounded to two decimal places), and (c) the selling price of flat panel displays (rounded to nearest whole dollar).

This is what I have so far, please include the formula or equation you are using to get the answers.

1. Determine the amount of desired profit from the production and sale of flat panel displays.

1300000X13%=169,000

2. Assuming that the product cost concept is used, determine (a) the cost amount per unit, (b) the markup percentage, and (c) the selling price of flat panel displays.

Cost amount per unit
Markup percentage	%
Selling price

3. (Appendix) Assuming that the total cost concept is used, determine (a) the cost amount per unit, (b) the markup percentage (rounded to two decimal places), and (c) the selling price of flat panel displays (rounded to nearest whole dollar).

Cost amount per unit
Markup percentage	%
Selling price

4. (Appendix) Assuming that the variable cost concept is used, determine (a) the cost amount per unit, (b) the markup percentage (rounded to two decimal places), and (c) the selling price of flat panel displays (rounded to nearest whole dollar).

Cost amount per unit
Markup percentage	%
Selling price