Exercise 12-15 (Algo) Calculate selling price of new product with a target CM ratio LO 128,129 O'Reilly incorporated makes and sells many consumer products. The firm's average contribution margin ratio is 276 . Mansagentent is considering adding a new product that will require an additionai $14,000 per month of fixed expenses and will have vartable expenses of $8 per unit. Required: a. Calculate the selling price that will be required for the new product if it is to have a contribution margin ratbo equal fa 27 : Note: Round your answer to 2 decimal places. b. Calculate the number of units of the new product that would have to be sold if the new pioduct is to increase the firmis mantive operating income by $8.200. Note: Do not round intermediate colculations