A Company has estimated sales of $600,000 with the following budgeted costs: Direct materials $80,000 Direct manufacturing labor 60,000 O.H Cost Variable 50,000 Fixed 70,000 Selling and administrative expenses Variable 40,000 Fixed 50,000 Compute the average markup percentage for setting prices as a percentage of variable manufacturing costs. Select one: O a. 215.78% b. 71.296 C. 130.46% d. 160.8%