Product Cost Method of Product Costing Smart Stream Inc. uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 cell phones are as follows: Variable costs per unit: Fixed costs: Direct materials $150 Factory overhead $350,000 Selling and administrative Direct labor 25 140,000 expenses Factory overhead 40 Selling and administrative expenses 25 Total variable cost per unit $240 Smart Stream desires a profit equal to a 30% return on invested assets of $1,200,000. a. Determine the amount of desired profit from the production and sale of 10,000 cell phones. $ b. Determine the product cost per unit for the production of 10,000 cell phones. $ per unit c. Determine the product cost markup percentage for cell phones. % d. Determine the selling price of cell phones. Round to the nearest dollar. Total Cost $ per unit Markup per unit Selling price $ per unit