Need help using solver, if you can only do the first one that is fine!

B G K Q R S U V C D E F H M N o 4 A firm is analyzing their pricing and operations for next year based on the following anticipated cost structure, the given level of production and sales, and their target 5 operating income margin of 10%. 6 7 Units Produced and Sold 100,000 8 Sales Commission Rate 20% 9 Direct Material Cost/Unit $20 10 Direct Labor Cost/Unit $15 11 Variable Manufacturing Overhead Cost/Unit $10 12 Total Fixed Manufacturing Overhead Costs $750,000 13 Total Fixed Selling & Administrative Costs $500,000 14 15 Target Operating Income Margin (Operating Income as a % of Sale 10% 16 17 Requirements: 18 1. Using Excel (Solver Add-In), determine the selling price necessary to obtain a 10% target operating income margin. Operating Income Margin is Operating Income Sales. 19 You will need to determine the appropriate Objective Function and the appropriate Constraints to use in Solver for calculating the selling price. In Solver under 20 Select a Solving Method', you can select 'Simplex LP' in the dropdown. 21 22 2. Based on the information given, generate the income statement both on a 'Per Unit' basis and on a 'Total Dollar ($)' basis using appropriate formulas. Both of these income 23 statements should clearly show the Contribution Margin (CM) and Operating Income (OI) calculations along with the CM and OI as a percentage of sales. Round to two 24 decimal places for the 'Per Unit' income statement and round to the nearest dollar for the 'Total Dollar ($)' income statement. 25 26 3. Determine the breakeven point in both units and total sales dollars (round to the nearest unit and dollar). 27 Sheet1 Sheet2 + 9 + 90%