SHOW STEPS FOR BOTH QUESTIONS

1)Phoenix, Inc. manufactures widgets. The target sales price is $440 per unit. The company desires a 40% net profit margin on its products. What is the company's target full-product cost per unit using target pricing?

2)Webster, Inc. has received a bid for 14,000 units. The costing estimates show that the average cost per unit for this bid will be $500. The company uses cost-based pricing and adds 20% markup to total costs. What total price will Webster ask for the entire order?