Answer:
80%
Explanation:
The computation of markup percentage on product cost is shown below:-
Markup percentage on product cost = ((Selling and administrative expenses + Desired profit) Ă· Product cost) Ă— 100
= (($70 + $58) Ă· $160) Ă— 100
= 0.8
or
= 80%
Therefore for computing the markup percentage on product cost we simply applied the above formula.