2. An Accra-based Company manufactures and sells three different types of high-quality sealed ball bearings. The bearings vary in terms of their quality specifications, primarily with respect to their smoothness and roundness. They are referred to as Fine, Extra-Fine, and Super-Fine bearings. Machine time is limited. More machine time is required to manufacture the Extra-Fine and Super-Fine bearings. Additional information is provided below. Products Fine Extra-Fine Super-Fine Selling price 6.00 10.00 16.00 Variable cost and expenses 4.00 46.50 11.00 Machine hours required 0.02 0.04 0.08 Maximum demand (units) 10,000 10,000 10,000 Required: a) Explain the term limiting factor in a production strategy and give some examples. 2 marks b) Ignoring the machine time constraint, what strategy would appear optimal? 3 marks c) What is the contribution margin per unit of limited resource for each type of bearing? 5 marks d) Assuming machine hours are limited to 400 hours in a period, determine the optimal production mix 5 marks