The Tipbox Tool Company has two products: a plain circular saw and a professional circular saw. The plain saw sells for $65 and has a variable cost of $40. The professional saw sells for $95 and has a variable cost of $60. Requirements 1. Compute contribution margins and contribution-margin ratios for plain and professional saws. 2. The demand is for more units than the company can produce. There are only 42,000 machine hours of manufacturing capacity available. Three plain saws can be produced in the same average time (1 hour) needed to produce one professional saw. Compute the total contribution margin for 42,000 hours for plain saws only and for professional saws only. Which product is the best use of machine hours? 3. Use two or three sentences to state the major lesson of this problem. Requirement 1. Compute contribution margins and contribution-margin ratios for plain and professional saws. (Round the contribution margin ratios to the nearest tenth of a percent, XX%) Plain Professional Selling price per saw Variable cost per saw Contribution margin per saw Contribution margin ratio %