An Income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling $ 100,000 Administrative 104,000 $ 900,000 630,000 270,000 204,000 Net operating income $ 66,000 On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The contribution margin for Sam's Bookstore for the first quarter is: Multiple Choice $756,000 O $180,000 $774.000 O O $144.000 Paolucci Corporation's relevant range of activity is 7,800 units to 16,000 units. When it produces and sells 11,900 units, Its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $ 7.00 $ 3.90 $ 1.90 $ 3.20 $ 1.20 $ 0.90 $ 1.15 $ 0.80 If 10,900 units are sold, the variable cost per unit sold is closest to: Multiple Choice $12.80 $20.05 $16.00 $14.75