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Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct...

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Accounting

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Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 3.8 pounds of the matenal, Ike uses 3.5 pounds of the materlal, and Bix uses 7 pounds of the material. Selling price per unit and varlabie costs per unit of each product follow (a) Compute contribuuon margin per pound of material for each product. (b) if demand is limited, ust the three products in the order in which management should produce and meet demand

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