Sunland Computer Parts Ltd. is setting a selling price on a new component it has just designed and developed. The following cost estimates for this new component have been provided by the accounting department for a budgeted volume of 51.500 units: Per Unit Total Direct materials Direct labour Variable manufacturing overhead $54 28 23 Fixed manufacturing overhead $618,000 Variable selling and administrative expenses 19 Fixed selling and administrative expenses 463,500 Sunland Computer Parts' management requests that the total cost per unit be used in the cost-plus pricing of products. On this particular product, management also directs that the target price be set to provide a 25% return on investment on invested assets of $1,030,000. (a) * Your answer is incorrect. Calculate the markup percentage and target selling price that will allow Sunland Computer Parts to earn its desired ROI of 25% on this new component. (Round answers to 2 decimal places, e.g. 15.25.) Mark-up percentage Target selling price eTextbook and Media 1.5 % 145.25