Limited Resources Assume Fender produces only three guitars: the Stratocaster, Dreadnought and Telecaster. A limitation of 720 labor hours per week from meeting the sales demand for these products. Product information is as follows: Stratocaster Dreadnought Telecaster $660 $1,386 330) (1,188) $198 Unit selling price $1,056 Unit variable costs (660) Une conuibution margn596 $330 Labor hours per unit 36 24 36 Required Determine the weekly contribution from each product when total labor hours are allocated to the product with the highest. 1. Unit selling price. 2. Unit contribution margin. 3. Contribution per labor hour (Hint: Each situation is independent of the others.) Highest Unit Selling Price Highest Contribution per Unit Highest Contribution per Labor Hour Labor hours available Weekly production Unit contribusion margin Weelly contribution Determine the opportunity cost the company will incur if management requires the weekly production of 20 Telecasters