Draaksh Corporation sells premium quality wine for $80 per bottle. Its direct materials and direct labour costs are $15 and $9.00 respectively per bottle. It pays its direct labour employees a wage of $18 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=$151,200 +$19.50x 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 $33,200 per month for sales promotions; additionally, it has decided to offer a sales commission of $4.25 per bottle to its sales personnel. Administrative expenses are expected to be $24,600 per month. Required: 1. Compute the expected total variable cost per bottle and the expected contribution margin ratio. Total variable cost Contribution margin ratio %