Preparing a Make or Buy Analysis using Excel's SUM, IF and Basic Math Functions Alanco, Inc manufactures a variety of products and is currently manufacturing all of its own component parts. An outside supplier has offered to sell one of those components to Alanco. The Controller has asked you to help evaluate this offer to determine if the compary should make or buy the component Use the information included in the Excel Simulation and the Excel functions described below to complete the task. - Cell Reference: Allow5 you to refor to dato from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "- C4" was. enterod, the formula would output the result from cell C4, or 27,000,000 in this example. - Basic Math functions: Allows you to use the bosic math symbols to perform mathematical functions You can use the following keys + (plus sign to add), - (minus sign to subtract), " (asterisk sign to multiply), and / (forward siesh to divide) From the Excel Simulation below, if in a blank cell "-C14+C15" was entered, the formula would add the values from those cells and output the result, or 2,900,000 in this example If using the other math symbols the result would output an appropriate answer for its function. - If function: Allows you to test o condition and return a specific value is the result is true and different vaiue if the fesult is folse the syntax The test, condition argument is an evaluation of the status of a cell, such es if the volue of a cell is greater than, less than, or equal to another number or cell. The value_it_true and wolue, it, farse arguments will retum ony specific result for each option, such as another cell reference. a value, or text. Throughout the entire equation, if text is being used in the test_condition, value if_true, or varue_if_folse arguments then the text itself should be entered in quotations so that fxcel will recognize the text as a "string of text" instead of another function. From the Excel Simulation beiow, if in a blank cell "-lF(C8 1000000 ,"Net income is good". Net income is bed"7 was entered, the formula would output the result of the value_if, true since the test condiron would be tesult as true, of in this case the toxt "Net income is good". Excel procestes the if function by separating it out into seperote parts. First the test conditian - Excel thinks, find cell CB and determine if the value is greater than 1,000,000 Once Excel determines if the result of that test_condition is TRUE or PALSE, it will return the value_ if, true or value if false The cell roference is Absolute Reference; Allows you to maintain the original cell reference when a formula is copled to another cell. The cell reference is "locked" by putting a dollar sign (\$) before the column and row references. By default a cell reference is relative, so when you copy a formula to another cell the values update bosed on a relative reference. For example, if you copy the formula " =88+B9 from cell C1 to cell C2. the formula in cell C2 will relatively update to be " =89+B101 since the copied formula moved down one cell, the formula cell references also moved down one cell, Conversely, by adding the absolute cell reference "locks" to the equation, the formula will not change when copled to any other cell. For example. " =$8$8+$8$9written in cell Cl is copied to cell C2, the formula in cell C2 will remain =$B$8+$8$9. You can also use a mixed cell reference by only "locking" the column or row only (\$B8 or B\$8) which locks that specific colurn or row and the other reference becomes a relative reference and "moves" with the formula as its copied to another cell. For example, if you copy the formula " =B$8+B9 from cell C1 to cell C2, the formula in cell C2 will update to be =B$8+B10 since the copied formula moved down one cell, the formula cell relative references also moved down one cell, but the absolute "locked" reference remained the same. For this project, when using Absolute Cell Referencing, you can also use the auto-fill option, however, for proper grading you should only auto-fili one cell at a time and not an entire range apter 11 - Excel Assignment \#2 Saved Fenor sheet 1 Chapter 11- Excel Assignment #2 (i) Sarrd