Timothy Company has budgeted sales of $780,000 with the following budgeted costs:

Direct materials $1,68,000
Direct manufacturing labor 1,32,000
Factory overhead
Variable 96,000
Fixed 1,08,000
Selling and administrative expenses
Variable 72,000
Fixed 1,00,000

Compute the average markup percentage for setting prices as a percentage of:

a. Total manufacturing costs
b. The variable cost of the product
c. The full cost of the product
d. Variable manufacturing costs