Hummingbird Company uses the product cost method of applying the cost-plus approach to product pricing. The costs and expenses of producing 25,000 units of Product K are as follows: 
Hummingbird desires a profit equal to a 5% return on invested assets of $642,500.
a.Determine the amount of desired profit from the production and sale of Product K.
b.Determine the total manufacturing costs and the cost amount per unit for the production of 25,000 units of Product K.
c.Determine the markup percentage for Product K.
d.Determine the selling price of Product K.
Round the markup percentage to one decimal place and other intermediate computations and final answer to two decimal places.
Definitions:
Stock Market Crash
A sudden and significant decline in the value of stock market shares, often leading to widespread financial panic and economic downturn.
Business Person
An individual who is involved in the activities of running or managing a business, which may range from a small enterprise to a large corporation, focusing on profit-making strategies.
Anomic Suicide
Results from a lack of regulation of the individual when the norms governing existence no longer control that individual.
Suicide Rates
The statistical measures representing the number of suicide deaths in a specific population and time period.
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