Question 1. If the cost of labor does not increase over the next 6 years, how much less will the cherry bookshelf cost than what it would cost if the labor cost did increase by 1.5% each year. Answer: Question 2 . If the projected annual increase in cost per board-foot of cherry and oak wood were swapped, and the projected annual increase in labor cost remained 1.5%, which bookshelf would cost more 6 years from now: Cherry or Oak? Answer: Question 3. What would the projected annual increase in cost per board-foot of oak wood need to be in order for the cost of oak bookshelves to reach the cost of cherry bookshelves in 6 years, assuming that the projected annual increase in cost per board-foot of cherry wood remained 2.4% and the projected annual increase of labor cost remained 1.5%. Answer: Projecting beokshelf costs at Woodworks The Woodworks Company produces a variety of custom designed wood fuzniture for its customers. One favorite item is a bookshelf, made from either cherry or oak. The company knows that wood prices and labor costs are likely to increase in the future: Woodworks knows the amount of maqerial and labor required for each type of bookshelf. They also know the cost per unit of material, the cost per unit of tabor, and the projected annual increase of these costs. Duld a sgreadiheet modet that enables the company to experiment with the growth rates in wood and labor costs so that a manager can set, both numerically and graphically, how the costs of the bookshelves increase in the neat few years. Output (projected costs)