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 $1,400 per unit, of which $950 is product cost and $450 is selling and administrative expenses. In addition, the total cost of $1,400 is made up of $800 variable cost and $600 fixed cost. The desired profit is $294 per unit. Determine the markup percentage on total cost