The Swan Company produces its product at a total cost of $43 per unit. Of this amount, $8 per unit is selling and administrative costs. The total variable cost is $30 per unit and the desired profit is $2 per unit. Determine the markup percentage on total cost. a. 46.5% b. 100% c. 110% d. 80% QUESTION 5 Which of the following is not a cost concept commonly used in applying the cost-plus approach to product pricing? a. product cost concept b. variable cost concept c. total cost concept d. fixed cost concept Which of the following is not a cost concept commonly used in applying the cost-plus approach to product pricing? a. product cost concept b. variable cost concept c. total cost concept d. fixed cost concept