Exercise 23-6 Sales mix determination and analysis LO P3 Colt Company owns a machine that can produce two specialized products. Production time for Product TLX is three units per hour and for Product MTV is four units per hour. The machine's capacity is 2,300 hours per year. Both products are sold to a single customer who has agreed to buy all of the company's output up to a maximum of 3,910 units of Product TLX and 4,358 units of Product MTV. Selling prices and variable costs per unit to produce the products follow. 1 per unit Selling price per unit Variable costs per unit Product TLX $11.00 3.30 Product MTV $6.60 3.96 Determine the company's most profitable sales mix and the contribution margin that results from that sales mix. (Round per unit contribution margins to 2 decimal places.) Determine the company's most profitable sales mix and the contribution margin that results from that sales mix (Round per unit contribution margins to 2 decimal places.) Product TLX Product MTV + Contribution margin per unit Contribution margin per production hour Product TLX 3.010 Maximum number of units to be sold Hour required to produce maximum units Product MTV 4,358 Total For Most Profitable Sales Mix Hours dedicated to the production of each product Product TEX Product MTV Total Units produced for most profitable sales mix Contribution margin per unit Total contribution margin