Problem 12A-9 Absorption Costing Approach to Cost-Plus Pricing [LO12-8] Aldean Company wants to use absorption cost-plus pricing to set the selling price on a new product. The company plans to invest $110,000 in operating assets to produce and sell 11.000 units. Its required return on investment (RON in its operating assets is 18%. The accounting department has provided cost estimates for the new product as shown below: Per Unit Direct materials Total $7.20 Direct labor $5.20 Variable manufacturing overhead $2.20 Fixed manufacturing overhead $80,850 Variable selling and administrative expenses $1.20 Fixed selling and administrative expenses $39,435 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 %