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 4,770 cell phones are as follows: Variable costs per unit: Direct materials $69 Direct labor 32 Factory overhead 23 Selling and administrative expenses 19 Total variable cost per unit $143 Fixed costs: Factory overhead $200,000 Selling and administrative expenses 71,700 MyPhone desires a profit equal to a 13% return on invested assets of $601,500. a. Determine the amount of desired profit from the production and sale of 4,770 cell phones. b. Determine the product cost per unit for the production of 4,770 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. Factory overhead Selling and administrative expenses Total variable cost per unit Fixed costs: Factory overhead 23 19 $143 $200,000 Selling and administrative expenses 71,700 MyPhone desires a profit equal to a 13% return on invested assets of $601,500. a. Determine the amount of desired profit from the production and sale of 4,770 cell phones. b. Determine the product cost per unit for the production of 4,770 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 Markup Selling price per unit per unit per unit