Willis Products Inc. uses the variable cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 200,000 units of medical tablets are as follows: Fixed costs Variable cost per unit Direct materials $800,000 $75 Factory overhead Selling & admin. expense Direct labor $1,200,000 Factory overhead Selling & admin. expense Total $2401 $240 Willis Products desires a profit equal to a 20% rate of return on invested assets of $12,000,000. Which of the following statements would be true? The selling price per unit would be $262. The variable cost per unit would be $262. The markup percentage would be 20%