Problem 12-24 Sell or Process Further [LO2] The Scottie Sweater Company produces sweaters under the "Scottie" label. The company buys raw wool and processes it into wool yarn from which the sweaters are woven. One spindle of wool yarn is required to produce one sweater. The costs and revenues associated with the sweaters are given below: Originally, all of the wool yarn was used to produce sweaters, but in recent years a market has developed for the wool yarn itself. Current cost and revenue data on the yarn are given below: All of the manufacturing overhead costs are fixed and would not be affected even if sweaters were discontinued. Manufacturing overhead is assigned to products on the basis of 150% of direct lobour cost. Materials and direct labour costs are variabie. (Round the final answers to 2 decimal places.) All of the manufacturing overhead costs are fixed and would not be affected even if sweaters were discontinued. Manufacturing overhead is assigned to products on the basis of 150% of direct labour cost. Materials and direct labour costs are variable. (Round the final answers to 2 decimal places.) Required: 1. What is the incremental contribution margin (if any) from further processing the wool into sweaters? Answer is complete but not entirely correct. 2. What is the lowest price that the company should accept for a sweater