Question: QUESTION 13 10 points Save Answer Consider the following scenario and image. You have purchased an under-performing biscuit factory in Brisbane. You are planning its

QUESTION 13 10 points Save Answer Consider the

QUESTION 13 10 points Save Answer Consider the following scenario and image. You have purchased an under-performing biscuit factory in Brisbane. You are planning its sales pricing for its four biscuit varieties (A4:47) for January, but you feel that the mark-up for the products is too low at the current 22% (B10). You would like to make profit of $35,000 (currently it is $14,011.07), and you would like to know what change to your mark-up would achieve this. Your marketing manager has given you sales estimate data based on previous experience. Your task: Use Goal Seek to determine the correct mark-up level to achieve a profit of $35,000. Enter the Goal Seek values for the following. Set cell: To Value: By Changing cell: *The image is labelled "Question 13 image" in the Exam PDF (for students that can't see images). B D E F G H 1 JANUARY SALES PLAN 2 Per pack Product 3 Cost price Sales Price Profit Estimated sales (packs) Estimated profit 4 Chocolate Caramel Crunch $ 0.800 $ 0.9760 $0.1760 12,790 $ 2,251.04 5 Marie's Mint Munchies $ 1.200 $ 1.4640 $0.2640 12,311 $ 3,250.10 6 Buttercream Beauties $ 1.000 $ 1.2200 $0.2200 19,459 $ 4,280.98 7 Brisbane's Best Butterscotch $ 1.100 $ 1.3420 $0.2420 17,475 $ 4,228.95 8 TOTALS 62,035$ 14,011.07 9 formula in E8 is =SUM(E4:E7) formula in F8 is =SUM(F4:F7) 10 Mark-up 22% formula in C4 is =B4*(1+$B$10) (copied down to C7) formula in D4 is =C4-B4 (copied down to D7) formula in F4 is =E4D4 (copied down to F7)

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