Selling Price; Forecast Income Statement; Break$-$Even Analysis. The Vantage Manufacturing Company has recently leased

manufacturing facilities for production of a new product. Based on studies made by the cost analyst, the following data have

been made available:

Estimated costs:

Amount Per Unit

Direct materials

$$96,000$$$4\mathrm{.}00$

Direct labor

$\mathrm{.}14,400,\mathrm{.}60$

Factory overhead

$\mathrm{.}24,000,1\mathrm{.}00$

Administrative expenses

$\mathrm{.}28,800,1\mathrm{.}20$

Total

$$163,200$$$6\mathrm{.}80$

Estimated annual sales.

$24,000$ units

Marketing expenses are expected to be $15\%$ of sales, and profit is to amount

to $$1\mathrm{.}02$ per unit.

Required: $(1)$ The selling price per unit.

$(2)$ A projected income statement for the year.

$(3)$ The break$-$even point expressed in dollars and in units, assuming that

$50\%$ of the factory overhead and all of the administrative expenses are fixed but that all other costs are fully variable.

$($Compute the CIM ratio to $1$ llOOth of $1\%.)$