Exercise 5: Widget versus Wodget A smal industrial-products firm has five main products in its product line. Prices, volumes, and costs for the five products are listed below. The sales force is paid a commission of 3% of sales. Please build a spreadsheet that will calculate gross profits for each of the five products. The 3% sales commission applies to all five products 1 Product WADGET WEDGET WIDGET WODGET WUDGET 3Price/unit 4 Unit volume/year 5 COGS/unit S125 8400 $62 345 4200 $188 $99 10950 $52 S380 4000 S225 $235 3850 $109 7 Sales commissions 0.03 9 Gross sales 10 less: Commissions 1 Net sales 12 less: COGS 13 Gross profit SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX SXXX