Total Cost Method of Product Pricing Smart Stream Inc. uses the...
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Total Cost Method of Product Pricing Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 8,500 units of cell phones are as follows: Smart Stream desires a profit equal to a 16% return on invested assets of $954,980. a. Determine the total costs and the total cost amount per unit for the production and sale of 8,500 cell phones. Round the cost per unit to two decimal places. b. Determine the total cost markup percentage for cell phones. Round your answer to two decimal places. \%. c. Determine the selling price of cell phones. Round to the nearest cent. Der cell phone
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