Depends on the print run.."the printing and binding angle"* is usually less than 10 % of the final price of a hard back book..magazines ..more like less than 5% ..
* By printing and binding I mean the labour involved, the materials, the equipment, and the depreciation of said equipment, the space required to do a print run etc..
Then of course one has to allow for distribution, and it's costs..and taxes..and in the EU vat ( average rate around 20% )..
Photography, ( and the subsequent image manipulation ), other images ,writing , ( editorial staff etc ) wages and fees, admin costs, office space, models wages or fees, insurances yadda yadda yadda..
Playboy's "pure printing and binding costs"..I'd be surprised if they came to more than 2% of the cover price..and that is without printing in cheap , but high quality areas, and shipping the printing in..
Many cases it's cheaper to get high quality printing in Asia and ship into U.S.A or EU than to print on the same continent..and the same applies to image manipulation and layout etc services..