Saved TB Problem Qu. 12A-120 Quamma Corporation makes a ... Quamma Corporation makes a product that has the following costs: Per Year Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses Per Unit $ 17.00 $ 14.60 $ 1.90 $751,400 $ 3.60 $559,000 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 $590,000 in this product and expects a return on investment of 17%. 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 Neyt