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 $7,000$ units of cell phones are as follows:

Variable costs per unit:

Direct materials $$81$

Direct labor $37$

Factory overhead $24$

Selling and administrative expenses $20$

Total variable cost per unit $\frac{,}{b}ar($$$162)$

Fixed costs:

Factory overhead

$$284,900$

Selling and administrative expenses $100,100$

Smart Stream desires a profit equal to a $15\%$ return on invested assets of $$769,630.$

a$.$ Determine the total costs and the total cost amount per unit for the production and sale of $7,000$ cell phones. Round the cost per unit to two decimal places.

Total cost

Total cost amount per unit

$$

$

b$.$ Determine the total cost markup percentage for cell phones. Round your answer to two decimal places.

$\%$

c$.$ Determine the selling price of cell phones. Round to the nearest cent.

$$ per cell phone