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 5,420 units of cell phones are as follows: Variable costs Fixed costs: $198,500 70,900 Direct materials Direct labor Factory overhead Selling and admin. exp $72 per unit Factory overhead 34 26 21 Selling and admin. exp Total variable cost per unit $153 per unit MyPhone desires a profit equal to a 13% rate of return on invested assets of $599,300 a. Determine the amount of desired profit from the production and sale of 5,420 units of cell phones. b. Determine the product cost per unit for the production of 5,420 of cell phones. If required, round your answer to nearest dollar per unit c. Determine the product cost markup percentage (rounded to two decimal places) for cell phones. d. Determine the selling price of cell phones. Round to the nearest dollar Total Cost Markup Selling price r unit r unit r unit