Sheridan Company has invested 3,420,000 in assets to produce 11,400 units of its finished product. Sheridan's budget for the year is as follows: net income 478,000; variable costs, 2,736,000; fixed costs, 456,000

Compute each of the following: (Round answers to 1 decimal place, e.g. 15.2%.)

1. Budgeted ROI _____ %
2. Markup percentage using the total cost approach _____ %