Smart Stream Inc. uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 cell phones are as follows: Variable costs per unit: Flxed costs: $350,000 Factory overhead Selling and administrative expenses Direct materials $150 Direct labor 25 140,000 40 Factofry overhead Selling and administrative expenses 25 Total variable cost per unit $240 Smart Stream desires a profit equal to a 30% return on invested assets of $1,200,000. a. Determine the amount of desired profit from the production and sale of 10,000 cell phones. b. Determine the product cost per unit for the production of 10,000 units of cell phones. per unit c. Determine the product cost markup percentage for cell phones. d. Determine the selling price of cell phones. Round to the nearest dollar. Previous Next Check My Work Fixed costs: Direct materials $150 Factory overhead Selling and administrative expenses $350,000 Direct labor 25 140,000 Factory overhead Selling and administrative expenses 40 25 Total variable cost per unit $240 Smart Stream desires a profit equal to a 30% return on invested assets of $1,200,000. a. Determine the amount of desired profit from the production and sale of 10,000 cell phones. b. Determine the product cost per unit for the production of 10,000 units of cell phones. per unit c. Determine the product cost markup percentage for cell phones. d. Determine the selling price of cell phones. Round to the nearest dollar. Total Cost Markup Selling price per unit per unit per unit Previous Next Check My Work All work saved. Email Instructor Save and Exit Submit Assignment for Grading