Product Cost Method of Product Costing MyPhone, Inc. uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 5,450 cell phones are as follows: Fixed costs: Variable costs per unit: Direct materials Direct labor $64 Factory overhead $198,800 71,200 Selling and administrative expenses Factory overhead 28 Selling and administrative expenses Total variable cost per unit $146 MyPhone desires a profit equal to a 15% rate of return on invested assets of $599,000, a. Determine the amount of desired profit from the production and sale of 5,450 cell phones. b. Determine the product cost per unit for the production of 5,450 of cell phones. Round your answer to the nearest whole dollar, per unit c. Determine the product cost markup percentage for cell phones, Round your answer to two decimal places d. Determine the selling price of cell phones. Round your answers to the nearest whole dollar Total Cost per unit Markup per unit