• Toyota Motor Corporation manufactures various models of vehicles. For its Camry model, the company incurred the following costs in the last production cycle:
  • Direct Materials: $10,000,000
  • Direct Labor: $5,000,000
  • Variable Manufacturing Overhead: $3,000,000
  • Fixed Manufacturing Overhead: $2,000,000
  • Number of Units Produced: 10,000 Calculate the total cost per unit of the Camry model and determine the selling price per unit to achieve a 20% markup on total cost.