MyPhone Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,000 units of cellular phones are as follows: Variable costs: Fixed costs: Direct materials $146 per unit Factory overhead $400,000 Direct labor 53 Selling and admin. exp. 136,000 Factory overhead 45 Selling and admin. exp. 36 Total $280 per unit MyPhone desires a profit equal to a 20% rate of return on invested assets of $1,318,600. c. Determine the total cost markup percentage (rounded to one decimal place). % d. Determine the selling price per unit. Round to the nearest cent. $ per unit