Martin Company uses the absorption costing approach to cost-plus pricing. It is considering the introduction of a new product. To determine a selling price, the company gathered the following information:

Number of units to be produced and sold each year

Unit product cost

Estimated annual selling and administrative expenses

Estimated investment required by the company

Destreo return on investi

12,000

$ 26.00

$ 26,400

300,000

12%

Required:

1. Compute the markup percentage on absorption cost required to achieve the desired ROl.
2. Compute the selling price per unit. Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

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Martin Company uses the absorption costing approach to cost-plus pricing. It is considering the introduction of a new product. To determine a selling price, the company gathered the following information: Required: 1. Compute the markup percentage on absorption cost required to achieve the desired ROI. 2. Compute the selling price per unit. Note: Do not round intermediate calculations. Round your answer to 2 decimal places