B D E F G H I J K L 1 The Woodworks Company produces a variety of custom-designed wood furniture for its customers. One favorite item is a bookshelf, made from either cherry or oak. The company 2 knows that wood prices and labor costs are likely to increase in the future. The next table shows the number of board-feet and labor hours required for a bookshelf, the current costs 3 per board-foot and labor hour, and the anticipated annual increases in these costs. (The top row indicates that either type of bookshelf requires 28 board-feet of wood and 18 hours of A 4 labor.) Build a spreadsheet model that enables the company to experiment with the growth rates in wood and labor costs so that a manager can see, both numerically and graphically, 5 how the costs of the bookshelves vary in the next few years. 6 7 8 Projecting bookshelf costs at Woodworks 9 10 Inputs 11 Requirements per bookshelf 12 Board-feet required 13 Labor hours required 14 15 Costs of wood 16 Current cost per board-foot 17 Projected annual increase 18 19 Cost of labor 20 Current cost per labor hour 21 Projected annual increase. 22 Cherry 28 18 Cherry $6.00 2.4% $20.00 1.50% Oak 28 18 Oak $5.50 1.7% M $20.00 1.50% N O F17 A 11 Requirements per bookshelf 12 Board-feet required 13 Labor hours required 14 15 Costs of wood 16 Current cost per board-foot 17 Projected annual increase 18 19 Cost of labor 20 Current cost per labor hour 21 Projected annual increase 22 23 Projected costs 24 25 26 27 28 29 30 31 32 33 Years from now 0 1 2 3 4 5 6 fix B Cherry 28 18 Cherry $6.00 2.4% $20.00 1.50% C Cost per board-foot Cherry Oak Oak 28 18 Oak $5.50 1.7% $20.00 1.50% D Cost per hour Labor E F Cost per bookshelf Cherry Oak G H I 1 K L M