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Farris Company reported the following information for its two products: Due to labor constraints, demand...

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Accounting

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Farris Company reported the following information for its two products: Due to labor constraints, demand for each of the products is greater than its supply. Product X requires one hour of labor to produce and product Y requires three hours of labor to produce. Which of the following statements is true? Pue to labor constraints, demand for each of the products is greater than its supply. Product X requires one hour of labor to produce and product Y requires three hours of labor to produce. Which of the following statements is true? Muipiple Choice Product X should be produced and sold because it has a lower cost than Product Y1 Product X shoud be produced and sold because in provides a higher contribution margin per labor hour than Product Y. Product Y should be produced and sold because it provided a higher contibution margin per unit than Product X. Product Y should be produced and sold because it provides more revenue than Product X

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