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Almas Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,160 sessions. The company has invested $2,345,000 in the studio and expects a return on investment (ROI) of 18%. Budgeted costs for the coming year are as follows. Per Session Total Direct materials (CDs, etc.) $ 20.03 Direct labor $413.00 Variable overhead $ 54.00 Fixed overhead $1,106,640 Variable selling and administrative expenses $ 43.00 Fixed selling and administrative expenses $585,800

Determine the total cost per session. (Round answer to 2 decimal places, e.g. 10.50.) Total cost $ per session

Calculate the markup percentage on the total cost per session. (Round answer to 2 decimal places, e.g. 10.50.) Markup percentage % per session

Calculate the target price per session. (Round answer to 2 decimal places, e.g. 10.50.) Target price $ per session

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