roduct Cost Method of Product Costing 1yPhone, Inc, uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 4,880 cell phones are as follows: MyPhone desires a profit equal to a 16% rate of return on invested assets of $598,000. a. Determine the amount of desired profit from the production and sale of 4,880 cell phones. b. Determine the product cost per unit for the production of 4,880 of cell phones. Round your answer to the nearest whole dollar. per unit c. Determine the product cost markup percentage for cell phones. Round your answer to two decimal places. %