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333 ints 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 has gathered the following information: Bumber of units to be produced and sold each year Unit product cost Estimated annual selling and administrative expenses Estimated Investment required by the company Desired return on investment (ROI) 12,000 $ 26 $ 26,400 $ 300,000 12 Required: 1. Compute the markup percentage on absorption cost required to achieve the desired ROI. 2. Compute the selling price per unit. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Answer is not complete. 1 20 % Markup percentago on absorption Cost Selling price per unit 2 Aldean Company wants to use absorption cost-plus pricing to set the selling price on a new product. The company plans to invest $250,000 in operating assets to produce and sell 25,000 units. Its required return on investment (ROI in its operating assets is 18% The accounting department has provided cost estimates for the new product as shown below: Total Direct materials Direct labor Variable manufacturing overhead Pixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses Per Unit $8.60 $6.60 $3.60 es 5201,250 $2.60 $ 24,250 Required: 1. What is the unit product cost for the new product? (Round intermediate calculations and final answer to 2 decimal places.) 2. What is the markup percentage on absorption cost for the new product? (Round intermediate calculations to 2 decimal places.) 3. What selling price would the company establish for its new product using a markup percentage on absorption cost? (Round intermediate calculations and final answer to 2 decimal places.) 1. Unit product cost 2 Markup percentage on absorption cost 3. Selling price per unit 20%