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 produci selling 10,000 cellular phones are as follows: Variable costs per unit: Fixed costs: $350,000 $150 25 40 25 $240 Factory overhead Direct materials Direct labor Factory overhead Selling and administrative expenses Selling and admin. exp.140,000 Total Smart Stream desires a profit equal to a 30% rate of return on invested assets of $1,200,000. a. Determine the total costs and the total cost amount per unit for the production and sale of 10,000 cellular phones. Total cost Cost amount per unit b. Determine the total cost markup percentage (rounded to two decimal places) for cellular phones. 350,000 X c. Determine the selling price of cellular phones. Round to the nearest dollar per phone