Function: IF, SUM; Formula: Multiply; Cell Referencing BE5.5 - Using Excel to Evaluate a Make-Versus-Buy Decision Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Input the Gru nar lndustries produces the component parts needed for its popular required mathematical formulas or functions with cell references to the Problem noncommercialuse drones. One of the key parts has become more costly area or work area as indicated. to produce than first planned, however, so management is considering outsourcing that part. If the company decides not to manufacture this part, a portion of its fixed manufacturing overhead costs would continue. Complete the schedule to support the decision of whether to make or buy the part. The costs to produce one such part internally and to purchase on part from the suppler are given here. Relevant Costs Relevant Cost to Make to Buy Costs to produce internally Direct materials Direct materials S 2.80 Direct labor Direct labor 1.?0 Variable manufacturing overhead Variable manufacturing overhead 0.50 Fixed manufacturing overhead Fixed manufacturing overhead 2.00 Total cost Cost to purchase from a supplier 6.25 Portion of fixed manufacturing cost to continUl 80% Should Grunar continue to make the part or buy it from the supplier? Grunar should make the part i CORRECT Value: 1.70 Feedback: Correct! Direct labor costs are $1.70 per unit and are relevant for decision making. 113 Instructions: 8% of your score. 0.08 out of 0.08 Formula: C14 Cell reference. Use cell referencing to the Problem area. CORRECT Value: 0.50 Feedback: Correct! Variable manufacturing overhead costs are $0.50 per unit and are relevant for decision making. 114 0.08 out of 0.08 Formula: C15 Instructions: 8% of your score. Cell reference. Use cell referencing to the Problem area. Feedback: Use a mathematical formula with cell references to the Problem area. On the relevant portion of the fixed costs should be considered. INCORRECT Value: 2.00 15 0.0 out of 0.12 Formula: C16 Instructions: 12% of your score. Formula: Multiply; Cell reference. Use a mathematical formula with cell references to the Problem area. Feedback: Use the SUM function with cell referencing to this work area. INCORRECT Value: 7.00 16 Instructions: 12% of your score. 0.0 out of 0.12 Formula: 112+113+114+115 Function: SUM; Cell reference. Use the SUM function with cell referencing to this work area. INCORRECT Value: 7.85 Feedback: Use cell referencing to the Problem area. 16 Formula: C17+(C16*C18) Instructions: 8% of your score. 0.0 out of 0.08 Cell reference. Use cell referencing to the Problem area. INCORRECT Feedback: Input the IF function with cell references to this work with output of "make the part." and "buy the part." for the decision. Hint: Compare the cost to make with the cost to buy. 120 Value: make the part Instructions: 44% of your score. 0.0 out of 0.44 Function: IF; Cell reference. Input the IF function with cell references to this work with output of "make the part." and "buy the part." for the decision