Sheffield Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. Per Unit Total Direct materials $28 Direct labor $40 Variable manufacturing overhead $10 Fixed manufacturing overhead $1,584,000 Variable selling and administrative expenses $ 7 Fixed selling and administrative expenses $ 1,056.000 These costs are based on a budgeted volume of 88,000 units produced and sold each year. Sheffield uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%. (a) X Your answer is incorrect. Compute the total unit variable cost, total unit fixed cost, and total unit cost for M14-M16. Variable cost per unit $ 88 Fixed cost per unit 37 Total cost per unit $ 125