Product Cost Markup Percentage

Apex Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $68 per unit, of which $38 is product cost and $30 is selling and administrative expenses. In addition, the total cost of $68 is made up of $40 variable cost and $28 fixed cost. The desired profit is $10 per unit.

Determine the markup percentage on product cost. Round the answer to nearest whole number. fill in the blank 1 %