Chapter 24 Homework (Application) eBook Show Me How Calculator Product Cost Method of Product Costing MyPhone, Inc., uses the product cost method of applying the cost plus approach to product pricing. The costs of producing and selling 5,460 units of cell phones are as follows: Variable costs: Fixed costs: Direct materiais $65 per unit Factory overhead $198,400 Direct labor Selling and admin. exp. 69,700 Factory overhead Selling and admin. exp. Total variable cost per unit 148 per unit MyPhone desires a profit equal to a 16% rate of return on invested assets of $598,500. a. Determine the amount of desired profit from the production and sale of 5,460 units of cell phones. $ 95,760 b. Determine the product cost per unit for the production of 5,460 of cell phones. If required, round your answer to nearest dollar 166 perunt c. Determine the product cost markup percentage (rounded to two decimal places) for cell phones. d. Determine the selling price of cell phones. Round to the nearest dollar Total Cost per unit Marku per unit per unit Selling price