Reference no: EM131768590

Question - Bugnugget's Crawfish Emporium specializes in the manufacturing and sales of specialty mudbug novelties and nibbles. Bugnugget has budgeted sales of $1,250,000 for 2XX9.

Bugnugget also has the following budgeted costs for 2XX9:

Direct Materials, $25,000

Direct Manufacturing Labor, $215,654

Variable Factory Overhead, $397,500

Fixed Factory Overhead, $150,000

Variable Selling & Administrative Expenses, $175,000

Fixed Selling & Administrative Expenses, $105,000

Compute the average markup percentage for setting prices as a percentage of the variable cost of the product.