LMVH Corp produces and sells three (3) products: laptop bags, back packs, and handbags. All products produced by LMVH Corp go through two production divisions: Division A and Division B. Details for laptop bags produced by LMVH Corp are as follows: Particulars Division A Division B $ 30 Direct materials cost per unit Direct labour cost per unit $ 25 $45 $ 30 Investment in plant and machinery (annual) $ 2,500,000 $ 1,500,000 Variable production overheads amounted $6 per labour hour and the budgeted fixed production overheads amounted to $8 per labour hour. The labour rate in Division B is 50% higher than the labour rate in Division A. Each laptop bag requires 2 labour hours in division A. Variable selling and distribution overheads relating to laptop bags amount to $20 per unit. LMVH Corp aims to produce 1,500 laptop bags per month which would require 30% of the annual practical capacity at both the divisions. Required (a) Assist LMVH Corp in determining the selling price of laptop bags if the company wishes to generate a contribution equivalent to 60% of capital employed