Posted: March 11th, 2021
Enter the reference to the net profit formula in the correct location for a two-variable data table.
Complete the two-variable data table in the range E25:K45. Use cell B6 as the Row input cell and B4 as the Column input cell. Format the results with Accounting Number Format with two decimal places.
Apply a custom number format to make the formula reference appear as a descriptive column heading Wages. Bold and center the headings and substitution values where necessary.
Create a scenario named Best Case, using Units Sold, Unit Selling Price, and Employee Hourly Wage (use cell references). Enter these values for the scenario: 200, 30, and 15.
Create a second scenario named Worst Case, using the same changing cells. Enter these values for the scenario: 100, 25, and 20.
Create a third scenario named Most Likely, using the same changing cells. Enter these values for the scenario: 150, 25, and 15.
Generate a scenario summary report using the cell references for Total Production Cost and Net Profit.
Load the Solver add-in if it is not already loaded. Set the objective to calculate the highest Net Profit possible.
Use the units sold as changing variable cells.
Use the Limitations section of the spreadsheet model to set a constraint for raw materials (The raw materials consumed must be less than or equal to the raw materials available). Use cell references to set constraints.
Set a constraint for labor hours. Use cell references to set constraints.
Set a constraint for maximum production capability. Units sold (B4) must be less than or equal to maximum capability per week (B7). Use cell references to set constraints.
Solve the problem. Generate the Answer Report and Keep Solver Solution.
Create a footer on all four worksheets with your name on the left side, the sheet name code in the center, and the file name code on the right side.
Save and close Exp19_Excel_Ch06_Cap_DeltaPaint.xlsx. Exit Excel. Submit the file as directed.
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