Q4: Alma's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,000 sessions. The company has invested $2,352,000 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Total Per Session $ 20 $400 $ 50 Direct materials (tapes, CDs, etc) Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $950,000 $ 40 $500,000 Instructions: (a) Identify the item and write each one of them and their amont in the table below (write in the area with lines) and determine the total cost per session. Total cost per session: Amount Per Session (1) Fixed selling & administrative expenses Total cost per session.. Show your calculation for (1) in the box below. (b) Determine the desired ROI per session. (c) Calculate the markup percentage on the total cost per session. (d) Calculate the target price per session