Swifty 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 $24 Direct labor $36 Variable manufacturing overhead $12 Fixed manufacturing overhead $1,756,800 Variable selling and administrative expenses $8 Fixed selling and administrative expenses $ 1,171,200 These costs are based on a budgeted volume of 97,600 units produced and sold each year. Swifty uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%.