Question: Need help solving please *Exercise 8-6 Alma's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio
Need help solving please

*Exercise 8-6 Alma's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,040 sessions. The company has invested $2,344,160 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Per Session Total Direct materials (CDs, etc.) $ 20 Direct labor $410 Variable overhead $ 50 Fixed overhead $988,000 Variable selling and administrative expenses $ 35 Fixed selling and administrative expenses $514,800 Determine the total cost per session. Total cost $ per session Determine the desired ROI per session. (Round answer to 2 decimal places, e.g. 10.50.) ROI $ per session Calculate the markup percentage on the total cost per session. Markup percentage % per session Calculate the target price per session. (Round answer to 2 decimal places, e.g. 10.50.) Target price $ per session
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