Product Cost Method of Product Costing MyPhone, Inc., uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 4,810 units of cell phones are as follows: Variable costs: Fixed costs: $202,000 Direct materials Direct labor Factory overhead Selling and admin. exp $82 per unit Factory overhead 40 Selling and admin. exp 69,300 18 Total variable cost per unit $162 per unit MyPhone desires a profit equal to a 13% rate of return on invested assets of $601,900 a. Determine the amount of desired profit from the production and sale of 4,810 units of cell phones. 78,247 b. Determine the product cost per unit for the production of 4,810 of cell phones. If required, round your answer to nearest dollar 779,220 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 Cost Markup Selling price per unit per unit per unit