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Product Cost Concept of Product Pricing Mademoiselle Company produces women's handbags. The cost of producing 1,200 handbags is as follows: Direct materials $14,700 Direct labor 8,400 Factory overhead 5,700 Total manufacturing cost $28,800 The selling and administrative expenses are $28,500. The management desires a profit equal to 17% of invested assets of $498,000. If required, round your answers to nearest whole number. a. Determine the amount of desired profit from the production and sale of 1,200 handbags. $ 84,660 b. Determine the product cost per unit for the production of 1,200 handbags. $ 24 per unit c. Determine the product cost markup percentage for handbags. 392.92 X % d. Determine the selling price of handbags. Round your answers to nearest whole value. Cost per unit Markup " per unit per unit Selling price " Feedback Check My Work a. Multiply the desired profit percentage by the desired amount (invested assets). b. Divide the total manufacturing costs by the number of units produced. c. Divide the desired profit plus the selling and administrative expenses by the total manufacturing cost. d. Add cost (b) and mark-up [(c) * (b)]. Learning Objective 2