5 Bikes Manufacturing produces and sells children's bikes at an average price of $80. Its costs are as follows: direct materials, $16; direct labour, $8; variable overhead, $2; sales commission, 5% of price. Its fixed monthly costs are $51,000. Required: 1. Using the above cost data, set up a monthly cost equation. 10 points X 02:24:33 Skipped eBook 2. What is the company's contribution margin percentage? (Round your answer to 2 decimal places.) Print Contribution margin % References