Sirhuds Inc., a maker of smartwatches, reports the information below on its product. The company uses absorption costing and has a target markup of 40% of absorption cost per unit.
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Direct materials cost
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$102 per unit
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Direct labor cost
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$32 per unit
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Variable overhead cost
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$10 per unit
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Fixed overhead cost
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$192,000 per year
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Variable selling and administrative expenses
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$4 per unit
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Fixed selling and administrative expenses
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$125,000 per year
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Expected production (and sales)
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$48,000 units per year
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Compute the target selling price per unit under absorption costing. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)