lvanhoe's Recording Studio rents studio time to musicians in two-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixers Anticipated annual volume is 1,100 sessions. The company has invested $2,216,500 in the studio and expects a return on investment of 25%. Budgeted costs for the coming year are as follows: Per Session Total Direct materials (tapes, CDs, etc.) $25 Direct labour 430 Variable overhead 40 Fixed overhead $1,067,000 Variable selling and administrative expenses 30 Fixed selling and administrative expenses 572,000 a Your answer is correct. Determine the total cost per session. Total cost per session 2015 eTextbook and Media Attempts: 1 of 2 used (b) Determine the desired ROI per session. (Round answer to 2 decimal places, e.g. 15.25.) Desired ROI per session $