PLEASE ANSWER IN EXCEL

Q1. (30 points) ABC Plastics has to determine whether to produce a component in-house or outsource. Cost Parameters are given below. Assume that ABC Plasctics has received five bids on the per unit cost for outsourcing The five bids are $2.90, $3.20, $3.30, $3.55 and $3.60 (i) Assuming an outsourcing cost of $3.00 and a quantity of 50000, come up with a model for savings due to outsourcing (ii) Construct a Two-Way table with Quantity in column (ranging from 0 to 300,000 in increments of 25000) and Bid Prices in the row. (iii) If the quantity required is 150,000, at what outsourcing cost does it make sense to outsource? Do the problem on a separate sheet. Parameters Manufacturing Fixed Cost Manufacturing Variable Cost per Unit $100,000.00 $2.50 Outsourcing Cost per Unit $3.00 Model Quantity Total Cost to Produce (Fixed cost +Var. cost *Qty) Total Cost to Outsource Savings due to Outsourcing