Will upload excel file to be worked on, once agreed upon.2Create appropriate range names for Total Production Cost (cell B18) and Gross Profit (cell B21) by selection, using the values in the left column.33Edit the existing name range Employee_Hourly_Wage to Hourly_Wages2018. Note, Mac users, in the Define Name dialog box, add the new named range, and delete the original one.34Use the newly created range names to create a formula to calculate Net Profit (in cell B22).45Create a new worksheet labeled Range Names, paste the newly created range name information in cell A1, and resize the columns as needed for proper display.56On the Forecast sheet, start in cell E3. Complete the series of substitution values ranging from 10 to 200 at increments of 10 gallons vertically down column E.27Enter references to the Total_Production_Cost, Gross_Profit, and Net Profit cells in the correct locations (F2, G2, and H2 respectively) for a one-variable data table. Use range names where indicated.38Complete the one-variable data table in the range E2:H22 using cell B4 as the column input cell, and then format the results with Accounting Number Format with two decimal places.59Apply custom number formats to make the formula references appear as descriptive column headings. In F2, Total Costs; in G2, Gross Profit, in H2, Net Profit. Bold and center the headings and substitution values.310Copy the number of gallons produced substitution values from the one-variable data table, and then paste the values starting in cell E26.411Type $15 in cell F25. Complete the series of substitution values from $15 to $40 at $5 increments.412Enter the reference to the net profit formula in the correct location for a two-variable data table.413Complete 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.1014Apply 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.315Create 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 15.416Create a second scenario named Worst Case, using the same changing cells. Enter these values for the scenario: 100, 25, and 20.417Create a third scenario named Most Likely, using the same changing cells. Enter these values for the scenario: 150, 25, and 15.418Generate a scenario summary report using the cell references for Total Production Cost and Net Profit.519Load the Solver add-in if it is not already loaded. Set the objective to calculate the highest Net Profit possible.520Use the units sold as changing variable cells.421Use the Limitations section of the spreadsheet model to set a constraint for raw materials. Use cell references to set constraints.422Set a constraint for labor hours. Use cell references to set constraints.423Set a constraint for maximum production capability. Use cell references to set constraints.424Solve the problem. Generate the Answer Report and Keep Solver Solution.525Create 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.4
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