Question 3 Yummy ice-cream makes and sells three different taste of ice-cream: Chocolate, Mango and Vanilla. Budgeted information of the three taste for the following year is as follows: Chocolate Mango Vanilla Estimated demand 15,000 units 25,000 units 50,000 units Unit selling price $90 $80 $70 Cost per unit: Direct labour ($50 per hour) $20 $15 $10 Direct materials ($15 per kg) $30 $20 $15 Additional information: (i) Part of variable production overheads are estimated to be 50% of the direct labour cost. (ii) Budgeted marketing expenses total $1,950,000 of which 30% is variable.Variable costs are to be absorbed on the basis of units produced. (iii) Budgeted xed production overheads amount to $3,500,000, which are to be absorbed on the basis of units produced. (iv) There is a maximum of 20,000 labour hours available per year due to labour shortage. You are required to: (a) Show the priority of production for the three products with calculation support. (6 marks) (b) Determine the optimum production plan which will maximize the yearly prot. (2 marks) <8 marks>