Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $30, direct labor $28, variable manufacturing overhead $21, fixed manufacturing overhead $38, variable selling and administrative expenses $18, and fixed selling and administrative expenses $30. Its desired ROI per unit is $31. Compute the markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, e.g. 10.50%.)

Markup percentage