McClelland Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale of 40,000 units of its sole product. McClelland desires a profit equal to a 14% rate of return on invested assets of $400,000.
- Fixed factory overhead cost $25,000
- Fixed selling and administrative costs 5,000.00
- Variable direct materials cost per unit 3.00
- Variable direct labor cost per unit 1.25
- Variable factory overhead cost per unit 75 cents
- Variable selling and administrative cost per unit 3.00
The dollar amount of desired profit from the production and sale of the company's product is?