QUESTION 4Not completeMarked out of 3.00 Not flaggedFlag question Question text Limited Resources Assume Fender produces only three guitars: the Stratocaster, Dreadnought and Telecaster. A limitation of 720 labor hours per week prevents Fender from meeting the sales demand for these products. Product information is as follows: Stratocaster Dreadnought Telecaster Unit selling price $1,056 $660 $1,386 Unit variable costs (660) (330) (1,188) Unit contribution margin $396 $330 $198 Labor hours per unit 36 24 36 Required Determine the weekly contribution from each product when total labor hours are allocated to the product with the highest. 1. Unit selling price. 2. Unit contribution margin. 3. Contribution per labor hour. (Hint: Each situation is independent of the others.) Highest Unit Selling Price Highest Contribution per Unit Highest Contribution per Labor Hour Answer Answer Answer Labor hours available Answer Answer Answer Labor hours per unit Answer Answer Answer Weekly production Answer Answer Answer Unit contribution margin $Answer $Answer $Answer Weekly contribution $Answer $Answer $Answer Determine the opportunity cost the company will incur if management requires the weekly production of 20 Telecasters. $Answer