Twilight Lumina Company recently began production of a new product, the halogen light, which required an investment of $1,980,000 in assets. The costs of producing and selling 9,900 halogen lights are estimated as follows: Variable costs per unit: Direct materials Direct labor Factory overhead Selling and admin. exp. Total $99 21 45 39 $204 Fixed costs: Factory overhead $396,000 Selling and admin. exp. 198,000 Twilight Lumina Company is currently considering establishing a selling price for the halogen light. The president of Twilight Lumina Company has decided to use the cost-plus approach to product pricing and has indicated that the halogen light must earn a 20% rate of return on invested assets. Required: Note: Round all percentages to two decimal places then use in subsequent computations, if applicable. Round all dollar amounts to the nearest dollar. 1. Determine the amount of desired profit from the production and sale of the halogen light. 2. Assuming that the total cost concept is used, determine the following: a. Cost amount per unit b. Markup percentage c. Selling price of the halogen light $ % 3. Comment on any additional considerations that could influence establishing the selling price for the halogen light.