Product Cost Concept of Product Pricing La Femme Accessories Inc. produces women's handbags. The cost of producing 1,220 handbags is as follows: Direct materials $16,300 Direct labor 8,000 Factory overhead 6,500 Total manufacturing cost $30,800 The selling and administrative expenses are $26,400. The management wants a profit equal to 18% of invested assets of $505,000, If required, round your answers to nearest whole number. a. Determine the amount of desired profit from the production and sale of 1,220 handbags. If required, round your answers to nearest whole number,