Problem #3 CVP Analysis 5 6 D Johnson Engineering produces two types of drill bits for the mining industry: a 3/4" model and a 1" model. The manufacturing process takes place in three departments. Tip fabrication makes tungsgten carbide tips out of powdered wolfram. The forging department slots the alloy steel rod and heat treats it for strength. Finally, the assembly department attaches the tips to the rods in a high-temperature brazing process. Information about production during the month of July is provided below. 7 Production volume (it untis) 8 Selling Price 9 Direct Material 10 Direct Labor 11 Manufacturing OH 12 Gross profit 13 14 15 16 17 3/4 Inch 1 Inch Total 250 400 650 $28.50 $38.50 $22,525 $8.25 $11.10 $6,503 $5.30 $9.65 $5,185 58.40 $11.00 $6,500 $21.95 $31.75 $18,188 This included utilities, manufacturing management salaries, quality control, production planning, manufacturing engineering, accounting, property taxes, and other indirect support costs that could not be traced to the individual products it was generally agreed that these costs did not vary over the volume ranges anticipated in the near future. M (1) What is the weighted average contribution margin? (2 points) Beady Problem #1 Problem #2 Problem #3 F1 F3 F4 144 F5 711 F6 F7 FB 01 DELL F9 a points F10