iMovie lets us export the audio of a project directly to an audio file we can import to other projects.
Choose File > Export, click on QuickTime, set the popUp menu to "Expert Settings", press Share, then from the top popUp menu, choose "Sound to AIFF". Choose the level of quality you want from the bottom popUp menu, then Save.
You can import that file to any iMovie project. Also put it in iTunes.
Karl