Alanco, Inc, manufactures a variety of products and is currently manufacturing all of its own component parts. An outside supplier has offered to sell one of those components to Alanco. The Controller has asked you to help evaluate this offer to determine if the company should make or buy the component. Use the information included in the Excel Simulation and the Excel functions described below to complete the task noes . Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, =c4" was entered, the formula would output the result from cell C4, or 27000,000 in this example Basic Moth functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys + (plus sign to add). - (minus sign to subtract). * (asterisk sign to multiply), and/orward slash to dvide). From the Excel Simulation below.if in a blank cel C14-C15" was entered the formula would add the values from those ces and output the result or 2.900,000 in this example using the other math symbols the result would output an appropriate answer for its function IF function: Allows you to test a condition and return a specific value is the result is true and different value if the results false. The syntax of the IF function is "Fitest_condition value true value_i_raise and specific considerations need to be made when using this function The test.condition argument is an evaluation of the status of a cell, such as if the value of a cell is greater than less than or equal to another number or cell. The value Jt true and wave false arguments will return any specific result for each option, such as another cell reference, a value, or text Throughout the entire equation if text is being used in the rest.condition valmue or valuese argunents then the text itself should be entered in quotations so that Excel will recognize the text as a string of text instead of another function From the Excel Simulation below, it in a blank cell C1000000 Net income goodNet Income is an entered the formula would output the result of the value true since the test.condition would be result as true or in this case the text Net ome is good" Excel processes the IF function by separating it out into separate parts first the rest.condition Excel thinking cewce and determwer the values greater than 1,000,000. Once Excel determines if the result of that test conditions TRUE FALSE I will return the value true or Value raise . Absolute Reference: Allows you to maintain the ongina cell reference when a focus copied to another Cell The cell reference is locked" by putting a dollar sign (5) before the column and row references by default acesteference reve, so wen you copy a formula to another cell the values update based on a relative reference For example, if you copy the formuler-38.89"hom cell citocell C2. the formula in cel C2 will relatively update to be 091610 Since the core formule moved down one cell, the formulace references also moved down one cell Conversely, by adding the absolute del reference locks to the out, the formula winot change when copied to any other cel For examole -5858-5859witten in cells cooled to cell 02 the formance 2 will remain Paste BIU- AH- Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font E27 . X fx A B D F G H 1 Alanco, Inc. manufactures a variety of products and is currently maunfacturing all of its own component parts. 2 An outside supplier has offered to sell one of those components to Alanco. To evaluate this offer, the following 3 Information has been gathered relating to the cost of producing the component internally: 4 $ 7 ces 8 4.00 6.00 2.00 5.00 8.00 25.00 5 Direct materials 6 Direct labor Variable manufacturing overhead Fixed manufacturing overhead, traceable" Fixed manufacturing overhead, common but allocated 10 Total cost 11 12 Supplier price $ 21.00 13 14 Units used per year 12,000 15 16 "Fixed manufacturing overhead, traceable is composed of two items: 17 30% Depreciation of equipment (no resale value) 18 Supervisor salary 70% 19 20 1. Assuming the company has no alternative use for the facilities now being used to produce the B D 19 20 1. Assuming the company has no alternative use for the facilities now being used to produce the 21 component, complete the following analysis to determine if the outside supplier's offer should be accepted. 22 sok int ences 23 Per Unit Differential Cost 12,000 units 24 Make Buy Make Buy 25 26 Cost of purchasing 27 Direct materials 28 Direct labor 29 Variable manufacturing overhead 30 Fixed manufacturing overhead, traceable 31 Fixed manufacturing overhead, common 32 Total costs 33 54 Based on this analysis, write an if statement to determine if Alanco should make or buy the component. Alanco should the component 37