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Product Cost Markup Percentage Crescent Lighting Inc. produces and sells lighting fixtures. An entry light...

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Accounting

Product Cost Markup Percentage

Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $76 per unit, of which $38 is product cost and $38 is selling and administrative expenses. In addition, the total cost of $76 is made up of $39 variable cost and $37 fixed cost. The desired profit is $1 per unit.

Determine the markup percentage on product cost. Round the answer to nearest whole number. ___ %

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