Asp.net MVC dropdownlist binding by using model classes

I am writing MVC listing page which need to bundle with dropdownlist.
As I am very junior to ASP.net MVC, i don't know how to make dropdownlist to run correctly and make selected dynamically.

I have two model classes

public class CycleType
{
    public int CycleTypeID { get; set; }
    public string Type { get; set; }

    public List<CycleModel> CycleModels { get; set; }
}

-----------------------------------------------------------   

public class CycleModel
{
    public int CycleModelID { get; set; }
    public int CycleTypeID { get; set; }
    public string Model { get; set; }

    public virtual CycleType CycleType { get; set; }
}

Then one Controller class,

public class CycleModelController : Controller
{
UnitOfWork<CycleModel> unitOfWork = new UnitOfWork<CycleModel>();
UnitOfWork<CycleType> unitOfWork_cycleType = new UnitOfWork<CycleType>();

...

[HttpGet]
public ActionResult Edit(int CycleModelID)
{
    CycleModel cycleModel = unitOfWork.GenericTEntityRepository.GetByID(CycleModelID);
    ViewBag.CycleType = new SelectList(unitOfWork_cycleType.GenericTEntityRepository.Get(orderBy: CycleTypes => CycleTypes.OrderBy(CycleType => CycleType.Type)));
    return View(cycleModel);
}

...
}

Then One Razor file,

<div class="editor-field">
@*Html.DropDownList("CycleType")*@
@*Html.EditorFor(model => model.CycleTypeID)*@

@Html.DropDownListFor(model => model.CycleTypeID,
                                new SelectList(ViewBag.CycleType, "Type", "CycleTypeID"))
@Html.ValidationMessageFor(model => model.CycleTypeID)
</div>

When I run my program, I get error message

DataBinding: 'System.Web.Mvc.SelectListItem' does not contain a property with the name 'Type'.

1)How could I make correct this code ?
2)How could I make select item dynamically ?

Every suggestion will be really appreciated.