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 $39 is product cost and $23 is selling and administrative expenses. In addition, the total cost of $62 is made up of $35 variable cost and $27 fixed cost. The desired profit is $12 per unit. Determine the markup percentage on product cost. Round the answer to nearest whole number. 111 %