Quamma Corporation makes a product that has the following costs Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Per Unit 18.40 s16.00 $3.30 Variable selitng and administrative expenses $799,000 $ 5.e0 Fixed selling and administrative expenses $573,080 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.(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.) a Markup percentage on absorption cost b Selling price Prex 6 of 16 Next > earch