/ you are the production manager for delta paint, a regional manufacturing company that specializes ... Question: You are the production manager for Delta Paint, a regional manufacturing company that specializes... You are the production manager for Delta Paint, a regional manufacturing company that specializes in customized paints. Your company sells paint by the gallon, and you have the task of forecasting the best production blends to maximize profit and most effectively utilize resources. Range Names Before using Excels Analysis tools to help complete your forecasts, you will create range names for key input cells to simplify the creation of formulas moving forward. a. Open e06c1Manufacturing and save it as e06c1Manufacturing_LastFirst. b. Create appropriate range names for Total Production Cost (cell B18) and Gross Profit (cell B21). c. Edit the existing name range Employee_Hourly_Wage to reflect the current year. Example: Hourly_Wages2018. d. Use the newly created range names to create a formula to calculate Net Profit (cell B22). e. Create a new worksheet labeled Range Names, paste the newly created range name information in cell A1, and resize the columns as needed for proper display. Goal Seek Currently, the company has 15,000 gallons of raw materials available for production. One gallon of paint requires 3 units of raw materials. Your next task is to determine how many units to produce in order to completely exhaust the resources available. a. Use Goal Seek to determine the units that must be sold to exhaust the total inventory of raw materials. b. Enter the values in the Q&A worksheet. One-Variable Data Table Your maximum weekly production capability is 200 gallons. You would like to create a one-variable data table to measure the impact of Production Cost, Gross Profit, and Net Profit based on selling between 10 and 200 gallons of paint within a week. a. Start in cell E3. Complete the series of substitution values ranging from 10 to 200 at increments of 10 gallons vertically down column E. b. Enter references to the Total Production Cost, Gross Profit, and Net Profit in the correct location for a one-variable data table. c. Complete the one-variable data table, and then format the results with Accounting Number Format with two decimal places. d. Apply custom number formats to make the formula references appear as descriptive column headings. Bold and center the headings and substitution values. e. Answer question 2 on the Q&A worksheet. Save the workbook. Two-Variable Data Table Your company is considering raising the manufacturing employees hourly wages. Employees are currently earning $15 per hour; however, you would like to review the impact of profit if the salaries were between $15 and $40 per hour. You will create a two-variable data table to complete the task. a. Copy the number of gallons produced substitution values from the one-variable data table, and then paste the values starting in cell E26. b. Type $15 in cell F25. Complete the series of substitution values from $15 to $40 at $5 increments. c. Enter the reference to net profit formula in the correct location for a two-variable data table. d. Complete the two-variable data table and format the results with Accounting Number Format with two decimal places. e. Apply a custom number format to make the formula reference appear as a descriptive column heading. Bold and center the headings and substitution values. f. Answer questions 3 and 4 on the Q&A worksheet. Save the workbook. Scenario Manager To this point you have created forecasts based on static production amounts; however, it is important to plan for both positive and negative outcomes. To help you analyze best, worst, and most likely outcomes, you will use Scenario Manager. a. Create a scenario named Best Case, using Units Sold, Unit Selling Price, and Employee Hourly Wage. Enter these values for the scenario: 200, 30, and 15. b. Create a second scenario named Worst Case, using the same changing cells. Enter these values for the scenario: 100, 25, and 20. c. Create a third scenario named Most Likely, using the same changing cells. Enter these values for the scenario: 150, 25, and 15. d. Generate a scenario summary report using the Total Production Cost and Net Income. e. Format the summary as discussed in the chapter. f. Answer question 5 on the Q&A worksheet. Save the workbook. Use Solver You realize the best-case scenario may not be realistic. You have decided to continue your analysis by using Solver to determine the perfect production blend to maximize net income while most efficiently using raw materials and labor hours. a. Load the Solver add-in if it is not already loaded. b. Set the objective to calculate the highest Net Income possible. c. Use the units sold as changing variable cells. d. Use the Limitations section of the spreadsheet model to set a constraint for raw materials. e. Set constraints for labor hours. f. Set constraints for maximum production capability. g. Solve the problem. Generate the Answer Report. If you get an internal memory error message, remove Solver as an add-in, close the workbook, open the workbook, add Solver in again, and finish using Solver. h. Answer questions 6 through 8 on the Q&A worksheet. Apply landscape orientation to the Q&A worksheet. Save the workbook. i. Create a footer on all five worksheets with your name on the left side, the sheet name code in the center, and the file name code on the right side. j. Save and close the file. Based on your instructors directions, submit e06c1Manufacturing_LastFirst. Delta Paint One-Variable Data Table: Production Input Units Sold 100 Unit Selling Price $30.00 Employee Hourly Wage $15.00 Maximum Capabilty per week 200 Limitations Raw Materials in Units 15000 Required raw materials per unit 3 Required Labor Hours Per Gallon 0.25 Labor Hours available 2,000 Expenses Raw Materials Consumed 300 Labor Hours Consumed 25 Total Production Cost $375.00 Income Gross Profit $3,000 Net Profit $2,625 Two-Variable Data Table: Production and Manufacturing Time Your Answers Question 1) How many units must be sold to exhaust all raw materials and why is the not a feasible option? 2) For the one-variable data table, how many units muse be sold to Net over $5000? 3) For the two-variable data table, if the hourly wage is raised to $20.00 per hour, how many units must be sold to Net $4000? 4) For the two-variable data table, if the hourly wage is raised to $40.00 per hour, how many units must be sold to Net $4000? 5) What is the Net income based on the best case scenario? 6) What is the most profit you can generate within the constraints using Solver? 7) How many labor hours are consumed when net profit is maximized? Step by step please 8) What is the total production costs when profit is maximized?