30.Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 57,800 units of its sole product. Magpie desires a profit equal to a 19% rate of return on invested assets of $620,000.

Fixed factory overhead cost$36,900

Fixed selling and administrative costs7,400

Variable direct materials cost per unit4.63

Variable direct labor cost per unit1.88

Variable factory overhead cost per unit1.13

Variable selling and administrative cost per unit4.50

The markup percentage on total cost for the company's product is

a.26.8%

b.20.5%

c.12.6%

d.15.8%