Please show the formulas you used for this problem.

Thanks!

SuperStyles, Inc. is a manufacturer of personal grooming products. During 2015, the company sold 240,000 Model 737 Hair Dryers to retail stores at a sales price of $32 each. Following are the 2015 financial results SuperStyles, Inc. Contribution Format Income Statement For the Year 2015 $7,680,000 Sales Less variable costs Direct materials Direct labor Variable overhead Total variable costs 1,488,000 1,320,000 1776,000 Contribution Margin Less fixed costs Income before taxes 4,584,000 $3,096,000 2,200,000 $ 896,000 You are the top managerial accountant at SuperStyles, Inc. and are scheduled to meet with the company's CEO next week to discuss the financial outlook for 2016. In particular, the CEO will want to know what steps the company might take to improve upon its 2015 income performance. You expect to be asked questions about the impact that various changes in sales price, sales volume, and costs would have on the company's contribution margin, breakeven point, margin of safety, and income. In addition the CEO is likely to ask this question: if sales price decreases due to competition but costs increase in 2016 how many dryers would we have to sell to meet our target income in 2016? You obviously won't be able to do these calculations by hand during the meeting, so you have decided to construct an Excel program to do them for you. Page 2 is an example of how the output of your program should look. Please note that the only area of the program that may contain hard-coded numbers is Section A; the only fields that you may change when doing "what if's" are the shaded ones in Section B; and all cells containing a"?" on the attached example (including those in Section C) must contain only formulas. No hard-coded numbers are allowed in any cell containing a"?"! You will be expected to turn in the following 1. An Excel file containing your program should be submitted to your professor via Canvas prior to the due date. Please include your names on the program itself, as well as naming the file with your Group # as part of the file name. Also keep a copy of the file in case of transmission failure 2. The "2016 what-if?" scenario should be based on these change factors Sales in units Sales price per unit Direct materials cost per unit Direct labor cost per unit Variable overhead cost per unit Fixed costs Target income +9% -6% +5% 4% 2% +5%