Problem solving. Compute for the items required in the problem. (35 points) 1. The Machine Warehouse sells specialized machines. They plan to release a new product, called Car Traffic Tracker, which allows drivers to see which roads are affected by heavy traffic and connectit to the GPS of their car. This requires an investment of P2,000,000 in assets. The costs of producing and selling 100,00 units of the Car Traffic Tracker are estimated as follows: Variable costs per unit: Direct materials P2.40 Direct labor 6.50 Factory overhead 0.90 Selling and Admin. Expenses 0.20 Fixed costs: Factory overhead 60,000 Selling and Admin. Expenses 140,000 The Machine Warehouse is considering what selling price to set for this new product. They assets decided to use a cost plus approach in the product pricing and an 18% rate of return on invested Required: . Determine the amount of desired profit from the production and sale of the Car Traffic Tracker. (5 points) . Compute for the cost amount per unit, mark-up percentage, and selling price for the following cost concepts: Total cost (10 points) Product cost (10 points) Variable cost ( 10 point