Cute Vlo Inc. produces and sells children's bikes at an average price of $72. Its costs are as follows: direct materials, $16; direct labour, $11; variable overhead, $6; sales commission, 5% of price. Its fixed monthly costs are $43,000. Required: 1. Using the above cost data, set up a monthly cost equation. (Round your answer to 1 decimal place.) Y = + 2. What is the company's contribution margin percentage? (Round your answer to 2 decimal places.) Contribution margin %