Required information [The following information applies to the questions displayed below.] The following is cost and production data for the Wave Darter: Variable manufacturing cost Applied fixed manufacturing cost Absorption manufacturing cost Variable selling and administrative cost Allocated fixed selling and administrative cost Total cost Variable manufacturing cost Variable selling and administrative cost Total variable cost Per unit $ 410 280 690 40 50+ $780 $ 410 40 $450 Based on planned monthly production of 45 units (or 540 units per year). Rounded The target profit is $54,000, with planned sales equal to production. Required: 1. Use the general formula for determining a markup percentage to compute the required markup percentage using variable manufacturing cost. (Round your percentage answer to 2 decimal places (i.e., .1234 should be entered as 12.34).) Markup percentage %