Lovell Computer Parts Inc. is in the process of setting a selling price on a new component it has just designed and developed. The following cost estimates for this new component have been provided by the accounting department for a budgeted volume of 45,000 units. Per Unit Total Direct materials $46 Direct labor $26 Variable manufacturing overhead $17 Fixed manufacturing overhead $495,000 Variable selling and administrative expenses $15 Fixed selling and administrative expenses $360,000 Lovell Computer Parts management requests that the total cost per unit be used in cost-plus pricing its products On this particular product, management also directs that the target price be set to provide a 18% return on investment (ROI) an invested assets of $1,000,000 Part 1 Compute the markup percentage and target selling price that will allow Lovell Computer Parts to earn its desired ROI of 18% on this new component. (Round markup percentage to 2 decimal places, ox, 10.50%) 3.25 Markup percentage Target selling price $ 127 Save for later Attempts: 0 of 1 used Saba Awwer Part 2 Assuming that the volume is 36,000 units, compute the markup percentage and target selling price that will allow towell Computer Parts to earn its desired ROI of 18% on this new component. (Round answers to 2 decimal places, s. 10.SON or 10.50) Markup percentage Target selling price $ Save for Attempts of 1 used Sunil A