Hordel Company needs to determine a markup for a new product. Hordel expects to sell 5,000 units and wants a target profit of $120 per unit. Additional information is as follows: Variable Costs per Unit Fixed Costs (total) Direct materials $ 38 Overhead $ 46,940 Direct labor 59 General and administrative 35,940 Overhead General and administrative 39 40 Using the variable cost method, what markup percentage to variable cost should be used?