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[The following information applies to the questions displayed below.] The following is cost...

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Accounting

[The following information applies to the questions displayed below.]

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

Per unit
Variable manufacturing cost $ 370
Applied fixed manufacturing cost 210 *
Absorption manufacturing cost 580
Variable selling and administrative cost 41
Allocated fixed selling and administrative cost 140
Total cost $ 761
Variable manufacturing cost $ 370
Variable selling and administrative cost 41
Total variable cost $ 411

*Based on planned monthly production of 43 units (or 516 units per year).

Rounded

The target profit is $40,000, with planned sales equal to production.

Required:

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).)

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).)

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