Quamma Corporation makes a product that has the following costs Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses $17.10 $14.70 2.00 $777,000 s 3.70 $560,000 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 35,000 units per year. The company has invested $600,000 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 decimal places.) and final answer to 2 on b. Selling price Prey 15 of 21E Next ^ women of the 1.-.p." ^ weeklo.pdf