Total Cost Method of Product Pricing Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 units of cell phones are as follows: Variable costs per unit: Direct materials Fixed costs: $150 Factory overhead $350,000 Direct labor 25 Selling and administrative expenses 140,000 Factory overhead 40 Selling and administrative expenses 25 Total variable cost per unit $240 Smart Stream desires a profit equal to a 30% 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 Total cost amount per unit 2,890,000 289 b. Determine the total cost markup percentage for cellular phones. Round your answer to two decimal places. 34 X % c. Determine the selling price of cellular phones. Round to the nearest whole dollar. 325 per cellular phone