1 Mickey Drexder's Worksheet 2 Numbers totally made up by Prof.G 3 4 Product 5 Purple Leather Pants $ 6 Jeans 7 T-Shirts 8 Sweatshirts 9 TOTAL Cost Manufactured Expenses Price Sold Revenue Proft/Loss 60.00 %24 (920,000) 398,400 23.00 40,000 $ 920,000 S 32,000 $ 48,000 S 14.00 40,000 S 560,000 $ 29.95 958,400 $ 371,600 129,000 621,600 $ 50,000 S 30,000 $ 5.00 250,000 $ 12.95 399,000 $ 1,979,000 $ 9.00 270,000 $ 19.95 20,000 S $ 2,000,000 (21,000) 10 11 To break even, Gap would need to sell this number of Purple Leather Pants: Now, use Goal Seek to figure out exactly how many units of Purple Leather Pants Mickey Drexler needs to sell in order to break even (break even means the firm hasn't lost any money - $0 profits, but also $0 losses). If you set up Goal Seek properly, the result should show in cell F5 when you're done. Also enter this value, arrived at from Goal Seek, into cell F11. Save your work, and submit your final, complete workbook, containing the "Fortune 11" and "Pants Goal" worksheets, via Canvas.
1 Mickey Drexder's Worksheet 2 Numbers totally made up by Prof.G 3 4 Product 5 Purple Leather Pants $ 6 Jeans 7 T-Shirts 8 Sweatshirts 9 TOTAL Cost Manufactured Expenses Price Sold Revenue Proft/Loss 60.00 %24 (920,000) 398,400 23.00 40,000 $ 920,000 S 32,000 $ 48,000 S 14.00 40,000 S 560,000 $ 29.95 958,400 $ 371,600 129,000 621,600 $ 50,000 S 30,000 $ 5.00 250,000 $ 12.95 399,000 $ 1,979,000 $ 9.00 270,000 $ 19.95 20,000 S $ 2,000,000 (21,000) 10 11 To break even, Gap would need to sell this number of Purple Leather Pants: Now, use Goal Seek to figure out exactly how many units of Purple Leather Pants Mickey Drexler needs to sell in order to break even (break even means the firm hasn't lost any money - $0 profits, but also $0 losses). If you set up Goal Seek properly, the result should show in cell F5 when you're done. Also enter this value, arrived at from Goal Seek, into cell F11. Save your work, and submit your final, complete workbook, containing the "Fortune 11" and "Pants Goal" worksheets, via Canvas.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
2
Transcribed Image Text:confused on how to use goal seek for this
problem
1 Mickey Drexler's Worksheet
2 Numbers totally made up by Prof. G
3
Proft/Loss
(920,000)
4 Product
Cost Manufactured
Expenses
Price
Sold
Revenue
5 Purple Leather Pants $
6 Jeans
7 T-Shirts
8 Sweatshirts
9 TOTAL
920,000 $
560,000 $
250,000 $
270,000 $
$ 2,000,000
23.00
40,000 $
60.00
40,000 $
50,000 S
30,000 S
958,400 $
621,600 $
399,000 $
24
14.00
29.95
32,000 $
398,400
5.00
12.95
48,000 $
371,600
129,000
(21,000)
9.00
19.95
20,000 S
1,979,000 $
10
11 To break even, Gap would need to sell this number of Purple Leather Pants:
Now, use Goal Seek to figure out exactly how many units of Purple Leather Pants Mickey
Drexler needs to sell in order to break even (break even means the firm hasn't lost any
money - $0 profits, but also $0 losses). If you set up Goal Seek properly, the result should show
in cell F5 when you're done.
Also enter this value, arrived at from Goal Seek, into cell F11.
Save your work, and submit your final, complete workbook, containing the "Fortune 11" and
"Pants Goal" worksheets, via Canvas.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education