In a cost$-$plus approach to pricing:

Group of answer choices

"plus" refers to the addition of allocated administrative overhead to the direct manufacturing costs.

"plus" refers to the addition of allocated fixed manufacturing overhead to the variable manufacturing costs.

the cost basis used must include fixed manufacturing overhead.

there is a direct relationship between the magnitude of the cost basis and the markup percentage.

there is an inverse relationship between the magnitude of the cost basis and the markup percentage.