On the Purchase Plan sheet, write the formulas that will populate the retail price, unit cost,...

 

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On the Purchase Plan sheet, write the formulas that will populate the retail price, unit cost, and storag cost per unit in their respective cells. Write the formulas that calculate the gross revenue (number purchased multiplied by the retail price), the total unit cost (unit cost multiplied by the number purchased), the total storage cost (storage cost per unit multiplied by the number purchased), the total cost (total unit cost plus total storage cost), and the profit (gross revenue minus the total cost) for each of the toys. Write the formulas to add the total number of toys purchased in cell B8, the total cost in cell 18, and the total profit in cell J8. Check that formulas entered in Step 4 link the objective cell (total profit) with the variable cells. Add sample values to the variable cells to ensure that your worksheet is set up correctly and produces the expected results. Create a constraints list in the worksheet that identifies the constraints in this problem. Format all monetary fields as Accounting with two decimal places. Use Solver to determine the best way to purchase the Mighty Toys sets and kits and maximize the profit. Produce an answer report of your final solution. Use the answer report to recommend additional changes that might maximize the total profit. Place your recommendations in a cell on the answer report worksheet. Save and close the MightyToys.xlsx workbook. On the Purchase Plan sheet, write the formulas that will populate the retail price, unit cost, and storag cost per unit in their respective cells. Write the formulas that calculate the gross revenue (number purchased multiplied by the retail price), the total unit cost (unit cost multiplied by the number purchased), the total storage cost (storage cost per unit multiplied by the number purchased), the total cost (total unit cost plus total storage cost), and the profit (gross revenue minus the total cost) for each of the toys. Write the formulas to add the total number of toys purchased in cell B8, the total cost in cell 18, and the total profit in cell J8. Check that formulas entered in Step 4 link the objective cell (total profit) with the variable cells. Add sample values to the variable cells to ensure that your worksheet is set up correctly and produces the expected results. Create a constraints list in the worksheet that identifies the constraints in this problem. Format all monetary fields as Accounting with two decimal places. Use Solver to determine the best way to purchase the Mighty Toys sets and kits and maximize the profit. Produce an answer report of your final solution. Use the answer report to recommend additional changes that might maximize the total profit. Place your recommendations in a cell on the answer report worksheet. Save and close the MightyToys.xlsx workbook.