Problem $13$A$-9($Algo$)$ Absorption Costing Approach to Cost$-$Plus Pricing $[$LO$13-8]$

Aldean Company wants to use absorption cost$-$plus pricing to set the selling price on a new product. The company plans to invest $$290,000$ in operating assets to produce and sell $29,000$ units. Its required return on investment $($ROI$)$ in operating assets is $18\%.$ The accounting department provided cost estimates for the new product as shown below:

Per Unit Total

Direct materials $ $9\mathrm{.}00$

Direct labor $ $7\mathrm{.}00$

Variable manufacturing overhead $ $4\mathrm{.}00$

Fixed manufacturing overhead $ $239,250$

Variable selling and administrative expenses $ $3\mathrm{.}00$

Fixed selling and administrative expenses $ $41,035$

Required:

What is the unit product cost for the new product?

Note: Round intermediate calculations and final answer to $2$ decimal places.

What is the markup percentage on absorption cost for the new product?

Note: Round intermediate calculations to $2$ decimal places.

What selling price would the company establish for its new product using a markup percentage on absorption cost$?$

Note: Round intermediate calculations and final answer to $2$ decimal places.