Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 25,000 units follow. The company targets a profit of $305,000 on this product. Variable costs per Unit Direct materials $ 75 Direct labor 45 Overhead 30 Selling 20 Fixed costs Overhead Selling Administrative $675,000 310,000 290,000 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the product's selling price using the variable cost method. Variable cost per unit Markup percentage Selling price