Problem,

Schopp Corporation makes a mechanical stuffed alligator that sings the Martian national anthem. The following information is available for Schopp Corporation's anticipated annual volume of483,000units.

Per Unit

Total

Direct materials

$6

Direct labor

$12

Variable manufacturing overhead

$14

Fixed manufacturing overhead

$2,898,000

Variable selling and administrative expenses

$15

Fixed selling and administrative expenses

$1,449,000

The company has a desired ROI of25%. It has invested assets of $27,048,000.

Question:

Using absorption-cost pricing, compute the markup percentage.(Round answer to 2 decimal places, e.g. 10.50%.)