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 5,500 cell phones are as follows:

Line Item Description	Amount
Direct materials	$84
Direct labor	35
Factory overhead	27
Selling and administrative expenses	18
Total variable cost per unit	$164

Line Item Description	Amount
Factory overhead	$202,000
Selling and administrative expenses	68,000

MyPhone desires a profit equal to a 16% return on invested assets of $601,000.

a. Determine the amount of desired profit from the production and sale of 5,500 cell phones. fill in the blank 1 of 1$

b. Determine the product cost per unit for the production of 5,500 cell phones. Round your answer to the nearest whole dollar. fill in the blank 1 of 1$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.

Line Item Description	Amount
Total Cost	$fill in the blank 4 per unit
Markup	fill in the blank 5 per unit
Selling price	$fill in the blank 6 per unit