Read the following scenario and answer the question that follows: Heated Ltd. ("Heated") is a recent start-up entity by a local entrepreneur, Mary Johnson. Heated employs unskilled but dedicated community members to make designer blankets. One of the sewers spent 8 hours to sew the first blanket and 4.8 hours for the second blanket. It is estimated that labour hours will reduce as the cumulative output increases. It is expected that this trend will continue until 16 blankets have been manufactured. The following additional information is estimated for the manufacturing of the first 16 blankets in total: Direct material: R880 Variable manufacturing overhead: R320 Fixed manufacturing overheads are estimated to cumulate to R500 in total for the first 16 blankets. All employees are paid R18 per hour each. Required: Calculate the selling price Heated Ltd should charge per blanket (unit) should a mark- up on cost of 60% be charged. Do not make use of logs. Round to two decimal places where required. (11 mackel