The following is cost and production data for the Wave Darter:

	Per unit
Variable manufacturing cost		$	400
Applied fixed manufacturing cost			250	*
Absorption manufacturing cost			650
Variable selling and administrative cost			50
Allocated fixed selling and administrative cost			100
Total cost		$	800
Variable manufacturing cost		$	400
Variable selling and administrative cost			50
Total variable cost		$	450

^* Based on planned monthly production of 40 units (or 480 units per year). Rounded. The target profit is $60,000, 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 variable manufacturing cost. (Round your percentage answer to 2 decimal places (i.e., .1234 should be entered as 12.34).)