er Variable manufacturing cost Applied fixed manufacturing cost Absorption manufacturing cost Variable selling and administrative cost Allocated fixed selling and administrative cost Total cost Variable manufacturing cost Variable selling and adminiatrative cost Total variable cost $370 250* 620 47 120t $787 $370 47 $417 Based on planned monthly production of 44 units (or 528 units per year). t Rounded The target profit is $45,000, with planned sales equal to production. 2. Use the general formula for determining a markup percentage to compute the required markup percentage using absorption manufacturing cost. (Round your percentage answer to 2 decimal places (l.e., 1234 should be entered as 12.34).) Markup percentage