Bailey Company sells 25,000 units at $15 per unit. Variable costs are $8 per unit, and fixed costs are $35,000. The contribution margin ratio and the unit contribution margin, (rounding to two decimal points) are:
a) 47% and $7 per unit
b) 53% and $7 per unit
c) 47% and $8 per unit
d) 53% and $8 per unit