Putnam Inc. has begun production on a new electronic product. The primary cost of the product is direct materials with a cost of $30. Direct labor is estimated to be $5 per unit, overhead is estimated to be $3 per unit, and selling and administrative expenses are estimated to be $2 per unit. If Putnam desires a profit of $50 per unit, what is the required markup on direct materials? 193% 67% 200% 167%