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 4,760 units of cell phones are as follows: Variable costs: Fixed costs: Direct materials $61 per unit Factory overhead $199,000 Direct labor 38 Selling and admin. exp. 68,900 Factory overhead 26 Selling and admin. exp. 22 Total variable cost per unit $147 per unit MyPhone desires a prot equal to a 15% rate of return on invested assets of $599,500. 3. Determine the amount of desired profit from the production and sale of 4,760 units of cell phones. s: b. Determine the product cost per unit for the production of 4,760 of cell phones. If required, round your answer to nearest dollar. 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 E per unit Markup C] per unit Selling price Q per unit