Magpie Corporation uses the total cost method of product pricing. Below is cost information for the production and sale of $58,400$ units of its sole product. Magpie desires a profit equal to a $25\%$ return on invested assets of $$550,000.$

Line Item Description Amount

Fixed factory overhead cost $$36,600$

Fixed selling and administrative costs $8,000$

Variable direct materials cost per unit $4\mathrm{.}6$

Variable direct labor cost per unit $1\mathrm{.}88$

Variable factory overhead cost per unit $1\mathrm{.}13$

Variable selling and administrative cost per unit $4\mathrm{.}50$

The markup percentage on total cost for Magpie's product is

a$.31\mathrm{.}1\%$

b$.23\mathrm{.}8\%$

c$.14\mathrm{.}6\%$

d$.18\mathrm{.}3\%$