Total Cost Concept of Product Pricing Smart Stream Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 celular phones are as follows: Variable costs per unit: Fixed costs: Direct materials $150 Factory overhead $350,000 Direct labor 25 Selling and admin. exp. 140,000 Factory overhead 40 Selling and administrative expenses 25 Total $240 Smart Stream desires a profit equal to a 30% rate of return on invested assets of $1,200,000 . Determine the total costs and the total cost amount per unit for the production and sale of 10,000 celular phones. Total cost 360,000 x Cost amount per unit 75 x b. Determine the total cost markup percentage (rounded to two decimal places) for cellular phones. 30X c. Determine the selling price of cellular phones. Round to the nearest dollar 325 per phone a. Divide the variable and fixed manufacturing costs by the number of units t. Divide the desired rot by the total cost c. Add the cost and up