I need all the answers in excel formulas. I am not good at excel so I don't get credit if I don't use formula's.

PB72 Analyzing Make-or-Buy Decision Lo 7-2, 7-4 Greenview Corp. (see PB7-1) is considering the possibility of outsourcing the production of the upholstered chair pads included with some of its wooden chairs. The company has received a bid from a company China to produce 1,000 units per year for $9 each. Greenview has the following information about its own production of the chair pads: Direct materials $ 4 Direct labor Variable manufacturing overhead 2 Fixed manufacturing overhead 3 Total cost per unit $10 Greenview has determined that all variable costs could be eliminated by dropping production of the chair pads, and that 30 percent of the fixed manufacturing overhead is avoidable. At this time, Greenview has no specific use in mind for the space currently dedicated to producing the chair pads. Required: 1. Compute the difference in cost between making and buying the chair pads. 2. Should Greenview buy the chair pads or continue to make them? 3. Suppose that a new product line that Greenview wants to develop could utilize the space currently used for the chair pads. How much profit must the new product line generate for Greenview to be indifferent between making or buying the chair pads? 4. Assume Greenview has a sustainability goal to increase the percentage of spending from local suppliers. If Greenview's managers are responsible for improving this metric, how might it impact their sourcing decisions? 5. What other strategic or sustainability-related goals should Greenview consider before making a final decision? B C D F H. J K L A 1 Chapter 7 Lab - PB 7-2, page 342 E G Enter formulas or descriptions in these fields 2. 3 4. Given data: 5 6 Number of units 7 Offer price 8 Make Buy 1000 $9 9 Direct Material Direct labor Variable Overhead Fixed Overhead Purchase Price $4 $1 $2 $3 $10 1 Total Cost per unit 10 Production Costs 11 Direct Material 12 Direct labor 13 Variable Overhead 14 Fixed Overhead 15 Total Cost per unit 16 17 Avoidable overhead 18 19 20 21 22 23 30% 2 3