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 $1,500 per unit, of which $1020 is product cost and $480 is selling and administrative expenses. In addition, the total cost of $1,500 is made up of $850 variable cost and $650 fixed cost. The desired profit is $135 per unit.

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