Question 8 1 points Save Ar Bindit plc manufactures ring binders. A customer has ordered a batch of 300 binders. The following data illustrate the cost for a typical batch of 100 binders: f Variable materials 30 Wages (paid on a per binder basis) 10 Machine set up (fixed per batch) 3 Design and artwork (fixed per batch) 15 58 Bindit plc absorbs production overhead at a rate of 20% of variable wages cost. A further 5% is added to the total production cost of each batch to allow for selling, distribution and administration overhead. Bindit plc requires a profit margin of 25% of selling price. The selling price for a batch of 300 binders should be: O 193.20 252.00 O 189.00 O 201.60