Blockbuster Video Rental has budgeted sales of $780,000 with the following budgeted costs:

Direct material $168,000

Direct manufacturing labour 132,000

Factory overhead:

Variable 96,000

Fixed 108,000

Selling and administrative expense:

Variable 72,000

Fixed 100,000

Required

Compute the average markup percentage for setting prices as a percentage of:

1. Total manufacturing costs
2. The variable cost of the product
3. The full cost of the product
4. Variable manufacturing costs