Tidewater Company uses the product cost concept of applying the cost-plus approach to product pricing. The cost and expenses of producing and selling 50,000 units of Product K are as follows:

Variable costs:
Direct materials	$5.00
Direct labor	8.50
Factory overhead	2.50
Selling and administrative expenses	1.00
Total	$17.00
Fixed costs:
Factory overhead	$50,000
Selling and administrative expenses	34,000

Tidewater desires a profit equal to a 10% rate of return on invested assets of $1,285,000.

a. Determine the amount of desired profit from the production and sale of Product K. $fill in the blank 1

b. Determine the total manufacturing costs and the cost amount per unit for the production and sale of 50,000 units of Product K.

Total manufacturing costs	$fill in the blank 2
Cost amount per unit	$fill in the blank 3

c. Determine the markup percentage for Product K. fill in the blank 4 %

d. Determine the selling price of Product K. Round your answer to two decimal places. $fill in the blank 5