Levi manufacturing makes profits with varying pricing structures, but it wants to determine the minimum markup percentage for all products based on manufacturing costs that will ensure that it does not fall below break-even point. It has estimated the following costs, for the coming year, for its planned production of all products. Variable manufacturing costs $1,000 Fixed manufacturing costs 500 Selling expenses 300 Administrative expenses 300 The markup percentage required for Levi Company to break even is: Select one: A. 35.75% B. 31.25% C. 40.00% D. 60.00%