Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $1,100 per unit, of which $750 is product cost and $350 is selling and administrative expenses. In addition, the total cost of $1,100 is made up of $630 variable cost and $470 fixed cost. The desired profit is $165 per unit.

Determine the markup percentage on total cost. fill in the blank 1 %