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Question 2 For many years, Manama Corporation has used a straightforwant absorption costing approach to cost-pks pnong, with a markup percentage of 25% It has recently to con to foreign competitors that have become very aggressive in the marketplace. These firms appear to be using target costing An example of Manama Corporahor's product no 70 the following unit-cost chanicteristics: direct materials. $65, direct labor, 506 manufacturing overhead, $50 and seling and admestrative expenses $40. The going market price for a identical product of identical quality is $200, which is below what Manama Corporation is charging Required: a) What is Manama Corporation's seting price for product no. 700 under ds current absorption costing approach to cost-plus pricing? m b) If Manama Corporation used target costing for item no 700, what should have been es target cost per unit if the company dosared to meet market price of $200 and main is current of profit on sales (2 marks) For the toolbar, press ALT+F10 (PC) ALTIN-F10 (Ma BIVS 5 d 16- Arial I X BOQ Paph 100t BO (40) xx THQ@ 11. 54 >> ASUS VivoBook @ Question Completion Status Moving to another question will save this response. Question 2 For many years, Manama Corporation has used a straightforward absorption costing approach to cost-plus pricing, with a markup percentage of 25% It has recen to foreign competitors that have become very aggressive in the marketplace. These firms appear to be using target costing An example of Manama Corporation's the following unit-cost characteristics: direct materials, $65; direct labor, $95; manufacturing overhead, $50, and selling and administrative expenses. $40. The go identical product of identical quality is $260, which is below what Manama Corporation is charging Required: a) What is Manama Corporation's selling price for product no. 700 under its current absorption costing approach to cost-plus pricing? (2 marks) 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 price of of profit on sales. (2 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) Y V AV Arial I. BIVS Paragraph 10pt X B V - x xX "Q BB B 6:3 2.3 PA BE E (1) 3 ble G A points d a straightforward absorption costing approach to cost-plus pricing, with a markup percentage of 25%. It has recently lost considerable business ggressive in the marketplace. These firms appear to be using target costing. An example of Manama Corporation's product no. 700, which has aterials, $65; direct labor, $95; manufacturing overhead, $50, and selling and administrative expenses, $40. The going market prion for an ich is below what Manama Corporation is charging. or product no. 700 under its current absorption costing approach to cost-plus pricing? (2 marks) or item no. 700, what should have been its target cost per unit if the company desired to meet market price of $260 and maintain its current rate *** 13633 V I. X 10pt TO r T 99 S2 111 H B