Chapter 11: Applying Excel Step 1: Download the Applying Excel form located on the left-hand side, under files. If you have trouble, the file is also located in D2L under Course Administration. Step 2: Then enter formulas in all cells that contain question marks. For example, in cell C26 enter the formula "= B5". Step 3: Check your worksheet by changing the cost of further processing undyed coarse wool in cell B12 to $30,000. The overall financial advantage (disadvantage) from processing all intermediate products into final products should now be $150,000 and the financial advantage (disadvantage) from further processing undyed coarse wool should now be $10,000. If you do not get these answers, find the errors in your worksheet and correct them. Step 4: Proceed to the requirements below only after completing your worksheet as it will be used to answer the following questions. Chapter 11: Applying Excel: Exercise 2. In industries that process joint products, the costs of the raw materials inputs and the sales values of intermediate and final products are often volatile. Change the data area of your worksheet to match the following: B 1 Chapter 11: Applying Excel 2 3 Data 4 Exhibit 11-7 Santa Maria Wool Cooperative 5 Cost of wool $ 192,000 40,000 $ $ $ 130,000 154,000 64,000 $ 6 Cost of separation process 7 Sales value of intermediate products at split-off point: 8 Undyed coarse wool 9 Undyed fine wool 10 Undyed superfine wool 11 Costs of further processing (dyeing) intermediate products: 12 Undyed coarse wool 13 Undyed fine wool 14 Undyed superfine wool 15 Sales value of end products: 16 Dyed coarse wool 17 Dyed fine wool 18 Dyed superfine wool $ 50,000 60,000 $ $ 10,000 $ $ $ 149,000 205,000 94,000 If your formulas are correct, you should get the correct answers to the following questions. a. What is the overall profit if all intermediate products are processed into final products? Overall profit from processing all intermediate products b. What is the financial advantage (disadvantage) from further processing? from further processing undyed coarse wool from further processing undyed fine wool from further processing undyed superfine wool Financial advantage Financial (disadvantage) C-1. With these new costs and selling prices, what recommendations would you make concerning the company's operations? Sell as is or process further the intermediate product undyed coarse wool? Sell as is or process further the intermediate product undyed fine wool? Sell as is or process further the intermediate product undyed superfine wool? Process further Sell as is C-2. If your recommendation in part (C-1) is followed, what would be the company's overall profit? Overall profit from following the plan in part (c)