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 five units per hour. The machine's capacity is 2,500 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 4,250 units of Product TLX and 5,735 units of Product MTV. Selling prices and variable costs per unit to produce the products follow. $ 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.) X Answer is complete but not entirely correct. Product TLX Product MTV 2.64 $ 7.70 Contribution margin per unit Units produced per hour Contribution margin per production hour 3 5 $ 23.10 $ 13.20 Product TLX Total Product MTV 5,735 4,250 Maximum number of units to be sold Hours required to produce maximum units 12,750 28,675 X 41,425 For Most Profitable Sales Mix Product TLX Product MTV Total Hours dedicated to the production of each product 2,500 X 0 x 833 Units produced for most profitable sales mix Contribution margin per unit Total contribution margin $ 7.70 0.00