Farris Company reported the following information for its two products: Product X Product Y Selling price per unit Variable cost per unit $55 33 $65 32 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 Y should be produced and sold because it provided a higher contribution margin per unit than Product X 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 provides more revenue than Product X