Riverbed'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 1,120 sessions. The company has invested $2,304,960 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Per Session Total Direct materials (CDs, etc.) $ 20 Direct labor $410 Variable overhead $ 45 Fixed overhead $1,064,000 Variable selling and administrative expenses $ 35 Fixed selling and administrative expenses $560,000 Determine the total cost per session. Total cost $ per session Determine the desired ROI per session. (Round answer to 2 decimal places, e.g. 10.50.) ROI $ per session e Textbook and Media Calculate the markup percentage on the total cost per session. Markup percentage % per session e Textbook and Media Calculate the target price per session. (Round answer to 2 decimal places, e.g. 10.50.) Target price $ per session