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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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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.
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