Check my work 4 o Required information [The following information applies to the questions displayed below.) This Applying Excel worksheet includes an explanation of the Goal Seek function and the PMT formula Part 2 of 2 4 points eBook Print Keeping all other data the same as in the original example, change the targeted operating income goal for the quarter, units sold for January and February, and price per unit and variable expense per unit for all three months to match the information below: Targeted operating income for the quarter = $11,900 Income Statement January February March Units Sold 1,190 Price per unit $ 6.00 $ 6.00 $6.00 Variable expense per unit $ 2.00 $ 2.00 $2.00 References 940 Required: 2a. Using Goal Seek in Excel, determine the total number of units Jim needs to sell in March in order to meet his targeted operating income for the quarter. (Round your answer up to the nearest unit.) Total number of units to sell in March Me CO 4 2b. If the company increases the price per unit by $2.00 for March only, what is the minimum number of units that Jim needs to sell in order to meet his targeted operating income for the quarter? (Round your answer up to the nearest unit.) Total number of units to sell in March after price increase 2c. Assume that Jim met his target net operating income of $11,900 and will now receive a $1,190 bonus. Jim plans to use his bonus as a down payment on a car Jhat costs $21,700. Using the PMT function, determine the monthly payment for his new car loan. (Round your answer to 2 decimal places.) Monthly Payment Ge 4 RE Monthly Payment 2d. Jim decides to wait to buy his car until he has a larger down payment. He wants to determine what his monthly payment would be if he earned a full year of quarterly bonuses. Assuming Jim received the same quarterly bonus for all four quarters during the year that was based on the net operating income goals described above. Determine his total bonuses earned for the year, the new loan amount, and the new monthly payment. (Round your monthly payment answer to 2 decimal places. Round all other answers to the nearest whole dollar.) Total bonuses earned in one year New loan amount New monthly payment 22 Check my work 4 o Required information [The following information applies to the questions displayed below.) This Applying Excel worksheet includes an explanation of the Goal Seek function and the PMT formula Part 2 of 2 4 points eBook Print Keeping all other data the same as in the original example, change the targeted operating income goal for the quarter, units sold for January and February, and price per unit and variable expense per unit for all three months to match the information below: Targeted operating income for the quarter = $11,900 Income Statement January February March Units Sold 1,190 Price per unit $ 6.00 $ 6.00 $6.00 Variable expense per unit $ 2.00 $ 2.00 $2.00 References 940 Required: 2a. Using Goal Seek in Excel, determine the total number of units Jim needs to sell in March in order to meet his targeted operating income for the quarter. (Round your answer up to the nearest unit.) Total number of units to sell in March Me CO 4 2b. If the company increases the price per unit by $2.00 for March only, what is the minimum number of units that Jim needs to sell in order to meet his targeted operating income for the quarter? (Round your answer up to the nearest unit.) Total number of units to sell in March after price increase 2c. Assume that Jim met his target net operating income of $11,900 and will now receive a $1,190 bonus. Jim plans to use his bonus as a down payment on a car Jhat costs $21,700. Using the PMT function, determine the monthly payment for his new car loan. (Round your answer to 2 decimal places.) Monthly Payment Ge 4 RE Monthly Payment 2d. Jim decides to wait to buy his car until he has a larger down payment. He wants to determine what his monthly payment would be if he earned a full year of quarterly bonuses. Assuming Jim received the same quarterly bonus for all four quarters during the year that was based on the net operating income goals described above. Determine his total bonuses earned for the year, the new loan amount, and the new monthly payment. (Round your monthly payment answer to 2 decimal places. Round all other answers to the nearest whole dollar.) Total bonuses earned in one year New loan amount New monthly payment 22
