Refer to the cost and production data for the Wave Darter in Exhibit 15–5. The target profit is $60,000.

Required: Use the general formula for determining a markup percentage to compute the required markup percentages with the following two cost-plus formulas:

1. Variable manufacturing costs [formula (1) in Exhibit 15–5].

2. Absorption manufacturing cost [formula (2) in Exhibit 15–5].