Omega Company reported the following information for the company's two products: Selling price per unit Product X Product Y $60 Variable cost per unit 30 $50 26 Assume that 76,000 machine hours are available; product X takes four machine hours to produce, and product Y takes two machine hours to produce. The company can sell all it can make of either product. Which of the following statements is true? Multiple Choice Product X should be produced because it provides a greater contribution margin Both products provide the same total profit. Product Y should be produced because it will produce greater total profit.