Pinkin Incorporated needs to determine a price for a new phone model. Pinkin desires a 25% markup on the total cost of the phone. Pinkin expects to sell 30,000 phones.

Additional information is as follows:

Variable Costs per Unit Fixed Costs (total) Direct materials $ 15 Overhead $ 85,000 Direct labor 40 General and administrative 65,000 Overhead 20 General and administrative 50 Using the total cost method what price should Pinkin charge?

156.60

162.50

130.10

142.50

161.25