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Please complete the Exercises as follows: ) Jersey Company owns a machine that can produce two specialized products. Production time for Product TLX is two hours per unit and for Product MTV is five hours per unit. The machine's capacity is 15,000 hours per year. Both products are sold to a single customer who has agreed to buy all of the company's output up to a maximum of 3,740 units of Product TLX and 2,090 units of Product MTV. Selling prices and variable costs per unit to produce the products follow. Determine (1) the company's most profitable sales mix and (2) the contribution margin that results from that sales mix. See the Interactive Homework item number 5 for the method on how to do this calculation. Product TLX Product MTV Selling price per unit $11.50 $16.90 Variable costs per unit 3.45 14 Check: $49.238.04 is the answer for the and seetion Marinette Company makes several products, including canoes. The company has been experiencing losses from its canoe segment and is considering dropping that product line. The following information is available regarding its canoe segment. Should management discontinue the manufacturing of canoes? Support your decision. MARINETTE COMPANY Income Statement--Canoe Segment Sales $ 2,000.000 Variable costs Direct materials 450.000 Direct labor 500.000 Variable overhead 300,000 Variable selling and admin. 200.000 Total variable costs 1,450.000 Contribution margin 550.000 Fixed costs Direct 375,000 Indirect 300.000 Total fixed costs 675,000 Net income (125,000 Check: Income impact if canoe segment dropped, ($175 080)