CT Co.produces dolls in two processes: molding and assembly. CT is currently producing two models: Chatty Chelsey (CC) and Talking Tanya (TT). Production in the molding department is limited by the amount of materials available. Production in the assembly department is limited by the amount of trained labor available. The only variable costs are materials in the molding department and labor in the assembly department. Following are the requirements and limitations by doll model and department: Molding Materials Assembly Time Selling Price Chatty Chelsey (CC) 2 pounds per doll 30 minutes per doll $50 per doll Talking Tanya (TT) 1.5 pounds per doll 20 minutes per doll $38 per doll Materials/Labor Available 42,000 pounds 6,500 hours Cost of materials and labor $8 per pound $12 per hour The following requirements refer only to the preceding data. There is no connection between the requirements. Required: (16%) 1. If there were enough demand for either doll, which doll would CT produce? How many of these dolls would it make and sell? 2. If CT sells two Chatty Chelseys (CC) for three Talking Tanya (TT), how many dolls of each type would it produce and sell? What would be the total contribution margin? 3. If CT sells two Chatty Chelseys (CC) for three Talking Tanya (TT), how much would production and contribution margin increase if the molding department could buy 850 more pounds of materials for $8 per pound? 4. If CT sells two Chatty Chelseys (CC) for three Talking Tanya (TT), how much would production and contribution margin increase if the assembly department could get 60 more labor-hours at $12 per hour?