Tarvy www Lovell Computer Parts Inc. is in the process of setting a selling price on a new component it has just designed and developed. The following cost estimates for this new component have to provided by the accounting department for a budgeted volume of 50,000 units. Per Unit Total Direct materials $52 Direct labor $21 Variable manufacturing overhead $2) Foxed manufacturing overhead $750,000 Variable selling and administrative expenses $14 Fixed selling and administrative expenses $350,000 Lovell Computer Parts management requests that the total cost per unit be used in cost-plus pricing its products. On this particular product, management also directs that the target price set to provide a 30% return on investment (RON on invested assets of $1,000,000 Your answer is correct Corpse question part Compute the markup percentage and target selling price that will allow Lovell Computer Parts to earn its desired ROI of 30% on this new component. (Round markup percentage to 2 decimal places, e.g. 10.509.) Markup percentage Target selling price 30 (b) Assuming that the volume is 40,000 units, compute the markup percentage and target selling price that will allow Lovelt Computer Parts to earn its desired Ror of 30% on this new component. (Round answers to 2 decimal places, e.g. 10.50% or 10.50.) Markup percentage Target selling price Click if you would like to show Work for this question Open Show Work