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? Multiple Choice Product X should be produced and sold because it hes a lower coit than Pioduct Y. Product x shouid be produced and sold becouse it provides a higher contnbution margin per isbor hour than Product y