Farris Company reported the following information for its two products: Due to labor constraints, demand for the products is greater than supply. Product X requires 1 hour of labor to produce and product Y requires 3 hours of labor to produce. Which of the following statements is true? Product X should be produced and sold because it has a lower cost than Product Y. Product X should be produced and sold because it provides a higher contribution margin per labor hour than Product Y. Product Y should be produced and sold because it provided a higher contribution margin per unit than Product X. Product Y should be produced and sold because it provides more revenue than Product X