ABC Company uses the total cost concept of applying the cost-plus approach to pr

ABC Company uses the total cost concept of applying the cost-plus approach to product pricing.The costs and expenses of producing and selling 38400 units of Product G are as follows:Variable costs:Direct materials$ 4.70Direct labor2.50Factory overhead1.90Selling and administrative expenses2.60Total$ 11.70Fixed costs:Factory overhead$80000Selling and administrative expenses14000ABC desires a profit equal to a 14% rate of return on invested assets of $640000.(a) Determine the amount of desired profit from the production and sale of Product G.(b) Determine the total costs and the cost amount per unit for the production and sale of 38400 units of Product G.(c) Determine the markup percentage for Product G.(d) Determine the selling price of Product G.