Adbri Ltd budgeted the following costs for the production of its one and only product for the next fiscal year: $1,340,000 755,000 Direct materials Direct labor Manufacturing overhead Variable Fixed Selling and administrative Variable Fixed Total costs 860,000 730,000 380,000 550,000 $4,615,000 Adbri Ltd has an annual target operating income of $950,000. The markup percentage for setting prices as a percentage of the variable cost of the product is a. 41.2% b.66.87% C. 27.5% d. 68.6%