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Colt Company produces two skateboard models. Machine time per unit for Hero is two hours and for Flip is one hour. The machine's capacity is 1,700 hours per year. Colt can sell up to 560 units of Hero and 880 units of Flip per year. Selling prices and variable costs follow. Selling price per unit Variable costs per unit Hero $ 156 52 Flip $ 98 56 Answer is complete but not entirely correct. Flip $ (a) Compute the contribution margin per machine hour for each product. Hero Selling price per unit 156 $ Variable costs per unit 52 Contribution margin per unit $ 104 $ Machine hours per unit 2 Contribution margin per machine hour $ 52$ 98 56 42 1 56 % > (b) Determine the best sales mix of products. Hero Flip Total 0X Units produced and sold for most profitable sales mix Hours required to produce most profitable sales mix 560 1,120 0 X Flip Total (c) Compute the total contribution margin for the best sales mix. Hero Units produced for most profitable sales mix 560 Contribution margin per unit $ 26 X $ Total contribution margin 0 0X Lopez Company is considering replacing one of its old manufacturing machines. The old machine has a book value of $49,000 and a remaining useful life of five years. It can be sold now for $59,000. Variable manufacturing costs are $47,000 per year for this old machine. Information on two alternative replacement machines follows. The expected useful life of each replacement machine is five years. Purchase price Variable manufacturing costs per year Machine A $ 116,000 22,000 Machine B $ 130,000 13,000 (a) Compute the income increase or decrease from replacing the old machine with Machine A. (b) Compute the income increase or decrease from replacing the old machine with Machine B. (c) Should Lopez keep or replace its old machine? (d) If the machine should be replaced, which new machine should Lopez purchase? Complete this question by entering your answers in the tabs below. Req A Reg B Reg C and D Compute the income increase or decrease from replacing the old machine with Machine A. (Amounts to be deducted should be indicated with a minus sign.) Machine A: Keep or Replace Analysis Keep Replace Income Increase (Decrease) from Replacing Revenues Sale of existing machine Costs Purchase of new machine Variable manufacturing costs Income (loss) Reg A Reg B Reg C and D Compute the income increase or decrease from replacing the old machine with Machine B. (Amounts to be deducted should be indicated with a minus sign.) Machine B: Keep or Replace Analysis Keep Replace Income Increase (Decrease) from Replacing Revenues Sale of existing machine Costs Purchase of new machine Variable manufacturing costs Income (loss) Reg A Reg B Reg C and D (c) Should Lopez keep or replace its old machine? (d) If the machine should be replaced, which new machine should Lopez purchase? (c) Should Lopez keep or replace its old machine? (d) Which new machine should Lopez purchase