1. Use sheets basecase, tax K, in Excel Project 1 - LP Production Cost.xlsx as posted on Canvas to answer this question. You have two inputs to production, robotic equipment, K and labor, L. You have 10 different processes you could employ to produce your product. The K and L requirements necessary to produce one unit of your product are given in cells A:3 through K:4. The wage rate is $15 per hour and the price of using K is $7.5 per hour. You good sells for $250. a. Use the basecase spreadsheet. Since you have 10 processes, you have 10 process rays. State the algebraic formulas for each of your process rays below. . B D E F G H J K L 30 22 17 12.5 9 6.5 4.5 2.5 1.5 1 4 K 5 6 w 15 7.5 7 r 8 9 10 cost coeff 11 12 q3 q4 45 96 q7 18 99 q1 0 910 0 0 0 0 0 0 0 0 12 13 Production 14 15 min cost #VALUE! 16 0 II 100 17 18 production target 19 20 L 21 K o 0 o o 0 0 o o o o Oo oo Oo o o O O 0 0 0 0 0 0 0 22 250 23 24 price of the good 25 profit 26 0 27 28 29 30 31 22 1. Use sheets basecase, tax K, in Excel Project 1 - LP Production Cost.xlsx as posted on Canvas to answer this question. You have two inputs to production, robotic equipment, K and labor, L. You have 10 different processes you could employ to produce your product. The K and L requirements necessary to produce one unit of your product are given in cells A:3 through K:4. The wage rate is $15 per hour and the price of using K is $7.5 per hour. You good sells for $250. a. Use the basecase spreadsheet. Since you have 10 processes, you have 10 process rays. State the algebraic formulas for each of your process rays below. . B D E F G H J K L 30 22 17 12.5 9 6.5 4.5 2.5 1.5 1 4 K 5 6 w 15 7.5 7 r 8 9 10 cost coeff 11 12 q3 q4 45 96 q7 18 99 q1 0 910 0 0 0 0 0 0 0 0 12 13 Production 14 15 min cost #VALUE! 16 0 II 100 17 18 production target 19 20 L 21 K o 0 o o 0 0 o o o o Oo oo Oo o o O O 0 0 0 0 0 0 0 22 250 23 24 price of the good 25 profit 26 0 27 28 29 30 31 22