Unique Company budgeted the following costs for the production of its one and only product for the next fiscal year: Direct materials Direct labor $1,125,000 780,000 Manufacturing overhead Variable 840,000 Fixed 645,000 Selling and administrative Variable 360,000 Fixed 480,000 Total costs $4,230,000 Unique has an annual target operating income of $900,000. The markup percentage for setting prices as a percentage of total manufacturing costs (absorption cost) is (Rounded):