Computing Markups The predicted 2017 costs for Mighty Motors are as follows: Manufacturing Costs Variable 200,000 400,000 Selling and Administrative Costs $600,000 300,000 Variable Average total assets for 2017 are predicted to be $7,000,000. (a) If management desires a 12 percent rate of return on total assets, what are the markup percentages for total variable costs and for total manufacturing costs? (Round your answer to the nearest whole percent.) Markup on variable costs 220 X % Markup on manufacturing costs 226.6 % (b) If the company desires a 10 percent rate of return on total assets, what is the markup percentage the nearest whole percent.) Markup to cover unassigned costs Markup to cover desired profit Check