oh will save this response. Question 1 For many years, Manama Corporation has used a straightforward absorption costing approach to cost plus pricing, with a markup percentage of 20% to foreign competitors that have become very aggressive in the marketplace. These firms appear to be using target costing. An example of Manama Corporatis produd no the following unit-cost characteristics; direct materials, $50; direct labor, $90, manufacturing overhead, $40, and selling and administrative expens 2 The ging market pe identical product of identical quality is $210, which is below what Manama Corporation is charging sely t Required: a) What is Manama Corporation's selling price for product no. 700 under its current absorption costing approach to cost-plus prang? ma b) If Manama Corporation used target costing for item no. 700, what should have been its target cost per unit if the company desired to meet market poe of 10 and maintain t of profit on sales? (2 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) 39 BIUS Paragraph Arial 10pt IxQE 88080 (0) OO! 99 22 X X R 11