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3kes Manufacturing produces and sells children's bikes at an average price of $120. its costs are as follows: direct materials, $12; direct labour, $8; variable
3kes Manufacturing produces and sells children's bikes at an average price of $120. its costs are as follows: direct materials, $12; direct labour, $8; variable overhead, $4; sales commission, 5% of price. Its fixed monthly costs are $47,000. Required: Using the above cost data, set up a monthly cost equotion. 2. What is the company's contribution margin percentage? (Round your answer to 2 decimal places.)
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