Exercise A-2 Absorption Costing Approach to Setting a Selling Price LOA-2] Martin Company is considering the introduction of a new product. To determine a selling price, the company has gathered the following information: Number of units to be produced and sold each year Unit product cost Proiected annual selling and administrative expenses Estimated investment required by the company Desired return on investment (ROI) 13,000 35 $ 74,000 $ 390,000 19% The company uses the absorption costing approach to cost-plus pricing Required: 1. Compute the markup required to achieve the desired ROI. ((Round your final answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) Markup percentage 18.97 2. Compute the selling price per unit. (Round your intermediate and final answers to 2 decimal places.) Unit product cost Markup Selling price per unit