Bikes Manufacturing produces and sells childrens bikes at an average price of $60. Its costs are as follows: direct materials, $14; direct labour, $6; variable overhead, $4; sales commission, 5% of price. Its fixed monthly costs are $49,000.

Required: 1. Using the above cost data, set up a monthly cost equation.

Bikes Manufacturing produces and sells children's bikes at an average price of $60. Its costs are as follows direct materials, $14, direct labour, $6; variable overhead, $4; sales commission, 5% of price. Its fixed monthly costs are $49,000 Required: 1. Using the above cost data, set up a monthly cost equation 2. What is the company's contibution marin percentage? (Round your answer to 2 decinal places 2. What is the company's contribution margin p Contribution margin References eBook & Resources Worksheet Learning Objective 06-02 Analyze and estimate costs Learning Objective: 06-01 Understand cost behaviour Learning Objective 06-03 Compute