Required Information Exerclse 15-34 Determining Markup Percentage; Target ROI (LO 15-3) [The following Information applies to the questions displayed below.] The following is cost and production data for the Wave Darter: Based on planned monthly production of 45 units (or 540 units per year). Rounded The target profit is $55,000, with planned sales equal to production. Exercise 15-34 Part 1 Required: 1. Use the general formula for determining a markup percentage to compute the required markup percentage using varlable manufacturing cost. (Round your percentage answer to 2 decimal places (l.e., 1234 should be entered as 12.34).) Required Information Exercise 15-34 Determining Markup Percentage; Target ROI (LO 15-3) [The following Information applies to the questions displayed below.] The following is cost and production data for the Wave Darter: * Based on planned monthly production of 45 units (or 540 units per year). Rounded The target profit is $55,000, with planned sales equal to production. Exercise 15-34 Part 2 2. Use the general formula for determining a markup percentage to compute the required markup percentage using absorption manufacturing cost. (Round your percentage answer to 2 decimal places (l.e., 1234 should be entered as 12.34).)