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Ivanhoe Co. has variable manufacturing costs per unit of $27, and fixed manufacturing cost per unit of $14. Variable selling and administrative costs per unit

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Ivanhoe Co. has variable manufacturing costs per unit of $27, and fixed manufacturing cost per unit of $14. Variable selling and administrative costs per unit are $3, while fixed selling and administrative costs per unit $8. Maggie desires an ROI of $9.50 per unit. If Ivanhoe Co. uses the absorption-cost approach, what is its markup percentage? 6.73%50.00%18.27%25.00%

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