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Formula: Divide, Multiply, Subtract; Cell Referencing E8.13 - Using Excel to Allocate Constrained Resources PROBLEM Umbrella Co. is considering the introduction of three new products. Per unit sales and cost information are as follows: Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or work area as indicated. How many of each product should Umbrella Co. produce and sell to maximize its A B C Sales price $ 3.00 $ 5.00 $ 16.00 Variable costs $ 1.20 S 3.40 $ 10.00 Fixed costs $ 0.50 $ 1.00 $ 3.50 Labor hours per unit 0.75 1.25 2.00 3 Monthly demand in units 650 250 2 The company has only limited direct labor hours available to commit to production of any new products. A B 800 Contribution margin per unit Contribution margin per labor hour Preference ranking Labor hours available 1,500 3 3 Allocation Ranking Units to Produce Hours Used Product Hours Available 1,500 #1 1 2 3 4 #2 #3