Dickson Corporation makes a product with the following costs: Per Year $ Per Unit 18.20 $ 22.30 $ 2.90 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 1,296,000 $ 1.10 $ 1,104,000 The company uses the absorption costing approach to cost-plus pricing described in the text. The pricing calculations are based on budgeted production and sales of 60,000 units per year. The company has invested $320,000 in this product and expects a return on investment of 15%. Direct labor is a variable cost in this company. The markup on absorption cost is closest to: O 30.0% O 15.0% O 31.2% 96.5%