Product Cost Concept of Product Costing Smart Stream Inc, uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 cellular phones are as follows: Smart Stream wants a profit equal to a 30% rate of return on invested assets of $1,200,000. a. Determine the amount of desired profit from the production and sale of 10,000 cellular phones. X b. Determine the product cost and the cost amount per unit for the production of 10,000 cellular phones. X per unit c. Determine the product cost markup percentage for cellular phones. % 5