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 5,000 cell phones are as follows: Variable costs per unit: Fixed costs: 585 5201,600 Factory overhead Selling and administrative expenses 40 70,800 Direct materials Direct labor Factory overhead Selling and administrative expenses 27 21 Total variable cost per unit $173 MyPhone desires a profit equal to a 15% rate of return on invested assets of $598,100. a. Determine the amount of desired profit from the production and sale of 5,000 cell phones. s b. Determine the product cost per unit for the production of 5,000 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