60% is not a bad markup (to the customer), and probably less than their markup on other items like notions and services (but remember their sales in those areas are a smaller percentage of total sales).
The 60% has to cover their cost of the product PLUS labor PLUS all the indirect costs (rent, gas, electric, insurance, etc). And lest we forget, businesses are in business for one reason only - to make a profit. A reasonable profit margin (after all expenses) is 30%.
Yes. I'm a cost accountant :)