Quamma Corporation makes a product that has the following costs:

Per Unit Per Year

Direct materials $ $18\mathrm{.}40$

Direct labor $ $16\mathrm{.}00$

Variable manufacturing overhead $ $3\mathrm{.}30$

Fixed manufacturing overhead $ $799,000$

Variable selling and administrative expenses $ $5\mathrm{.}00$

Fixed selling and administrative expenses $ $573,000$

The company uses the absorption costing approach to cost$-$plus pricing as described in the text. The pricing calculations are based on budgeted production and sales of $34,000$ units per year.

The company has invested $$730,000$ in this product and expects a return on investment of $18\%.$

Required:

a$.$ Compute the markup on absorption cost and Markup percentage on absorpotion cost$.($Round your intermediate and final answer to $2$ decimal places.$)$

b$.$ Compute the selling price of the product using the absorption costing approach. $($Round your intermediate and final answer to $2$ decimal places.$)$