Product Cost Markup Percentage Apex Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $62 per unit, of which $31 is product cost and $31 is selling and administrative expenses. In addition, the total cost of $62 is made up of $45 variable cost and $17 fixed cost. The desired profit is $14 per unit. Determine the markup percentage on product cost. Round the answer to nearest whole number. fill in the blank 1