Product Cost Concept of Product Pricing La Mujer Accessories Inc. produces womens handbags. The cost of producing 1,200 handbags is as follows: Direct materials $14,500 Direct labor 7,100 Factory overhead 5,600 Total manufacturing cost $27,200 The selling and administrative expenses are $26,500. The management wants a profit equal to 16% of invested assets of $500,000. If required, round your answers to nearest whole number. a. Determine the amount of desired profit from the production and sale of 1,200 handbags. $fill in the blank 1 b. Determine the product cost per unit for the production of 1,200 handbags. $fill in the blank 2per unit c. Determine the product cost markup percentage for handbags. fill in the blank 3 % d. Determine the selling price of handbags. Cost $fill in the blank 4 per unit Markup fill in the blank 5 per unit Selling price $fill in the blank 6 per unit