Problem 3-35 (Part Level Submission) Kipmar Company produces a molded briefcase that is distributed to luggage stores. The following operating data for the current year has been accumulated for planning purposes. Sales price Variable cost of goods sold Variable selling expenses Variable administrative expenses $40.00 12.00 10.60 3.00 Annual fixed expenses Overhead Selling expenses Administrative expenses $7,800,000 1,550,000 3,250,000 Kipmar can produce 1,500,000 cases a year. The projected net income for the coming year is expected to be $1,800,000. Kipmar is subject to a 40% income tax rate. During the planning sessions, K mar's managers have been reviewing costs and expenses. They estimate that he company's anable cost of goods sold wil inrease 1 % n he c mi fixed administrative expenses will increase by $150,000. All other costs and expenses are expected to remain the same. year and that (al) Your answer is incorrect. Try again. Calculate contribution margin per unit for the coming year. (Round contribution margin per unit to 2 decimal places, e.g. 0.38.) 14.3 Contribution margin per unit