Draaksh Corporation sells premium quality wine for $70 per bottle. Its direct materials and direct labour costs are $13 and $8.00 respectively per bottle. It pays its direct labour employees a wage of $16 per hour. The company performed a regression analysis using the past 12 months' data and established the following monthly cost equation for manufacturing overhead costs using direct labour-hours as the overhead allocation base: y= $150,200 +$18.50x Draaksh believes that the above cost estimates will not substantially change for the next fiscal year. Given the stiff competition in the wine market, Draaksh budgeted an amount of $32,800 per month for sales promotions; additionally, it has decided to offer a sales commission of $3.75 per bottle to its sales personnel. Administrative expenses are expected to be $24,400 per month Required: 1. Compute the expected total variable cost per bottle and the expected contribution margin ratio. Total variable cost Contribution margin ratio %