Oregon Equipment Company wants to develop a new log$-$splitting machine for rural homeowners. Market research has determined that the company could sell $5,000$ log$-$splitting machines per year at a retail price of $$600$ each. An independent catalog company would handle sales for an annual fee of $$3,000$ plus $$70$ per unit sold. The cost of the raw materials required to produce the log$-$splitting machines amounts to $$50$ per unit.

If company management desires a return equal to $10$ percent of the final selling price, what is the target conversion and administrative cost per unit? Hint: The target unit cost will only or should only include conversion costs and remaining or additional sales and administrative costs.

Round answer to two decimal places.

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