Using excel, can someone help how to do these problems

1) A company may desire to see the range of potential outcomes based on its assumptions. In this case, the Scenario Manager under the What-If Analysis menu is a helpful function.

Problem: A plow company is examining what its Net Income will be based on different levels of customer demand for its services. The company does not charge a flat rate for the season, but bills customers based on the number of times that it clears driveways. The facts are as follows:

o Revenue per Plowed Driveway = $50

o Variable Expenses: o Labor Costs = $9 per driveway o Fuel = $3 per driveway o Maintenance = $2 per driveway

o Fixed Expenses: o Insurance = $900 o Garage Rent = $1,300

The company is interested in what its Net Income will be under the following three scenarios: o High Demand = 300 plowed driveways o Most Likely Demand = 150 plowed driveways o Low Demand = 90 plowed driveways 1) Build an Excel spreadsheet with the three scenarios outlined above by using Scenario Manager" : You will have to first construct an income statement.

2) The Solver function can be helpful when a company is trying to determine the best course of action when it is facing constraints and multiple unknowns. The Solver function can be found by clicking Solver in the Analysis menu under the Data tab in the Excel ribbon. Use the Solver function to determine the answer to the below problem.

Problem You work for a company that manufactures furniture. As with most organizations, your company wants to maximize its profit. However, it is subject to constraints. Build an Excel spreadsheet which utilizes the Solver function to determine the number of units of each of your companys 4 products that should be produced to maximize its profit. The products and the needed resources to produce one unit of them are listed below.

Product 1: Dresser o 4 hours of labor o 45 boards of wood o 500 nails o 450 quarts of varnish

Product 2: Cabinet o 12 hours of labor o 55 boards of wood o 420 nails o 800 quarts of varnish

Product 3: Chest o 10 hours of labor o 100 boards of wood o 300 nails o 200 quarts of varnish

Product 4: Table o 6 hours of labor o 60 boards of wood o 210 nails o 500 quarts of varnish

The cost per unit of each resource, and the amount that the company has available is as follows: Labor = $8/hour; 800 hours available Wood = $7/board; 6,000 boards available Nails = $0.20/nail; 29,500 nails available Varnish = $1.50/quart; 35,100 quarts available

The selling price per product is as follows: Dresser = $2,100 Cabinet = $3,400 Chest = $2,350 Table = $1,900