Product Cost Concept of Product Pricing Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,000 units of medical tablets are as follows Variable costs per unit: Fixed costs: Direct materials Direct labor Factory overhead Selling and admin. exp. $125 46 38 31 $240 Factory overhead 344,000 Selling and admin. exp. 112,000 Total Willis Products desires a profit equal to a 20% rate of return on invested assets of S864.000: a. Determine the total manufacturing costs for the production and sale of 8,000 units Total Manufacturing Costs Variable Fixed factory overhead Total mine the cost amount per unit for the production and sale of 8,000 units Determine the cost amount per unit for the production and sale of 8,000 units. per unit b. Determine the product cost markup percentage per unit. Round your percentage answer to one decimal place c. Determine the selling price per unit. Use the rounded product cost markup percentage i dollar your calculations, and round the amount of the markup to the nearest whole per unit