Sheridan Manufacturing is in the process of setting a selling price on a new product it has just developed. The following data is available from the accounting department based on a budgeted volume of $100,000$ units.

$\backslash$table$[[,$Per Unit,Total$],[$Direct materials,$$20,],[$Direct labor,$$25,],[$Variable manufacturing overhead,$$20,],[$Fixed manufacturing overhead,,$$220,000$

Compute the markup percentage and target selling price that will allow sheridan manufacturing to earn a $30\%$ return on investment