XYZ Ltd makes 3 products and for the current period there is a shortage of skilled labour with only 10,000 hours available. The selling price and cost per unit for each of these products is as follows:

Product X Product Y Product Z

Direct materials 64. 45. 54

Direct labour (paid 7/hour) 56. 49. 70

Selling price 160. 150. 184

Fixed overheads for the period are 50,000. The maximum demand for each product is: Product X 350 Product Y 550 Product Z 480

Required:

Determine the production mix that will maximise profit in the current period and calculate the resulting profit (assume part units can be made).