Week Four Practice 1. Exercise A-2 Absorption Costing Approach to Setting a Selling Price (LOA-2] Martin Company is considering the introduction of a new product. To determine a seling price, the company has gathered the following information: Number of units to be produced and sold each year Unit product cost Projected annual selling and administrative expenses Estimated investment required by the company Desired return on investment (RON) 12,000 $ 25 $ 68,000 $ 330,000 20% The company uses the absorption costing approach to cost.plus pricing Required: 1. Compute the markup requred to achieve the desired ROI. Round your final answer to 2 decimal places de 0.1234 should be entered as 12.34):) Markup percentage 2. Compute the selling price per unit. (Round your intermediate and final answers to 2 decimal places Unit product cost Markup Selling price per unit