Jarvis Company uses the total cost concept of applying the cost-plus approach to product pricing. The costs and expenses of producing and selling 35,000 units of Product E are as follows: Variable costs: Direct materials Direct labor Factory overhead Selling and administrative expenses Total $3.00 1.25 0.75 3.00 $8.00 Fixed costs: Factory overhead Selling and administrative expenses Jarvis desires a profit equal to a 14% rate of return on invested assets of $450,000. a. Determine the amount of desired profit from the production and sale of Product E $50,000 20,000 b. Determine the total costs and the cost amount per unit for the production and sale of 35,000 units of Product E Total manufacturing costs Cost amount per unit c. Determine the markup percentage for Product E d. Determine the selling price of Product E. Round your answer to two decimal places Previous Next