Assume that markup is based on selling price. Find the dollar markup and percent of markup on selling price.
Note: Round your "Dollar markup" answer to the nearest cent and "Percent markup on selling price" to the nearest tenth percent
\begin{tabular}{|l|c|c|c|c|c|}
\hline Cost & \begin{tabular}{c}
Selling \\
price
\end{tabular} & \begin{tabular}{c}
Dollar \\
markup
\end{tabular} & \begin{tabular}{c}
Percent markup on \\
selling price
\end{tabular} \\
\hline
\end{tabular}

Step 1 ：Given the cost and selling price of an item, we are asked to find the dollar markup and the percent markup on selling price.

Step 2 ：The dollar markup can be calculated by subtracting the cost from the selling price. This gives us the amount by which the selling price exceeds the cost.

Step 3 ：The percent markup on selling price can be calculated by dividing the dollar markup by the selling price and then multiplying by 100. This gives us the percentage by which the selling price exceeds the cost.

Step 4 ：Let's denote the cost as \(C\) and the selling price as \(S\). The dollar markup \(M_d\) can be calculated as \(M_d = S - C\).

Step 5 ：The percent markup \(M_p\) can be calculated as \(M_p = \frac{M_d}{S} \times 100\).

Step 6 ：Finally, we round the dollar markup to the nearest cent and the percent markup to the nearest tenth percent.

Step 7 ：\(\boxed{\text{def calculate_markup(C, S):}} \)

Step 8 ：\(\quad \text{M_d = round(S - C, 2)} \)

Step 9 ：\(\quad \text{M_p = round((M_d / S) * 100, 1)} \)

Step 10 ：\(\quad \text{return M_d, M_p}\)