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Question 1 Al-Mafraq Manufacturing Company has three products all of which require the same production machines. Cost data of the products are shown below: Costs Product (1) Product (2) Product (3) Direct Materials costs JOD 24.9 JOD 25.7 JOD 26.6 Labor costs JOD 13.3 JOD 17.1 JOD 15.7 Variable overhead costs JOD 2.5 JOD 2.8 JOD 3.1 Traceable fixed overhead costs JOD 19.8 JOD 27.7 JOD 21 Al-Mafraq Manufacturing Company makes the three products in a single facility Additional data concerning these products are: Product (1) Product (2) Product (3) Selling price per unit JOD 71.5 JOD 87.9 JOD 83 Variable selling cost per unit JOD 2.3 JOD 1.9 JOD 3.8 Monthly demand in units 1,000 3,000 3,000 Processing time per unit 2.5 minutes 1.7 minutes 1.6 minutes A total of 10,800 minutes of mixing machines are available per month to meet the demand of the company's mix of products. The company has no plan to invest in extra new mixing machines. As a Senior Manager at the company, the CEO has asked you to: 1. Determine the minutes of mixing machine time needed to meet the monthly demand for all products. (2 Marks) 2. Determine the optimal production plan of each product that maximizes the net operating income (4 Marks) 3. The CEO of the company has approved your optimal production plan, and asked you to determine how much the company should be willing to pay for one extra hour of mixing machine time. (4 Marks)