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 5,040 cell phones are as follows: Variable costs per unit: Fixed costs: Direct materials $67 Factory overhead $201,200 Direct labor 35 Selling and administrative expenses 71,800 Factory overhead Selling and administrative expenses 19 Total variable cost per unit $148 MyPhone desires a profit equal to a 15% rate of return on invested assets of $599,600. a. Determine the amount of desired profit from the production and sale of 5,040 cell phones. b. Determine the product cost per unit for the production of 5,040 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 Selling price per unit