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 $ 350 220* 570 47 7ef $ 687 $ 350 47 $ 397 *Based on planned monthly production of 42 units (or 504 units per year). Rounded t The target profit is $56,000, 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 % 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 (i.e., .1234 should be entered as 12.34).) Markup percentage %