M Question 3-APPLY - CH 16 Ex M SmartBook: Welcome x Project 4 x + ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%2... ✰ Excel i Saved Required information Applying Excel - Goal Seek and PMT [The following information applies to the questions displayed below.] This Applying Excel worksheet includes an explanation of the Goal Seek function and the PMT formula. Applying Excel-Goal Seek and PMT: Exercise (Part 2 of 2) Keeping all other data the same as in the original example, change the targeted operating income goal for the quarter, units sold for January and February, and price per unit and variable expense per unit for all three months to match the information below: Targeted operating income for the quarter = $11,800 Income Statement January February March Units Sold 1,180 930 Price per unit $ 4.00 Variable expense per unit $ 1.00 $ 4.00 $ 1.00 $4.00 $1.00 Required: 2a. Using Goal Seek in Excel, determine the total number of units Jim needs to sell in March in order to meet his targeted operating income for the quarter. (Round your answer up to the nearest unit.) Total number of units to sell in March 2 #3 W E D 20 $4 888 % 5 9 < Prev 3 of 3 Next > 61 MacBook & 7 8 R T Y U F ―の G H J K O O P
M Question 3-APPLY - CH 16 Ex M SmartBook: Welcome x Project 4 x + ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%2... ✰ Excel i Saved Required information Applying Excel - Goal Seek and PMT [The following information applies to the questions displayed below.] This Applying Excel worksheet includes an explanation of the Goal Seek function and the PMT formula. Applying Excel-Goal Seek and PMT: Exercise (Part 2 of 2) Keeping all other data the same as in the original example, change the targeted operating income goal for the quarter, units sold for January and February, and price per unit and variable expense per unit for all three months to match the information below: Targeted operating income for the quarter = $11,800 Income Statement January February March Units Sold 1,180 930 Price per unit $ 4.00 Variable expense per unit $ 1.00 $ 4.00 $ 1.00 $4.00 $1.00 Required: 2a. Using Goal Seek in Excel, determine the total number of units Jim needs to sell in March in order to meet his targeted operating income for the quarter. (Round your answer up to the nearest unit.) Total number of units to sell in March 2 #3 W E D 20 $4 888 % 5 9 < Prev 3 of 3 Next > 61 MacBook & 7 8 R T Y U F ―の G H J K O O P
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
2a. Using goals seek in excel, determine the total number of units Jimmy needs to sell in March in order to meet his targeted operating income for the quarter. Round your answer up to the nearest unit.
2b. if the company increases the price per unit by one dollar for March only, what is the minimum number of units that Jim needs to sell in order to meet his targeted operating income for the quarter? Round your answer up to the nearest unit.
2c. Assume that Jim met his target net operating income of $11,800 and will now receive a $1180 bonus. Jim plans to use his bonus as a down payment on a car that cost $22,600.. Using the PMT function, determine the monthly payment for his new car loan. Round your answer to two decimal places.
2d. Jim decides to wait to buy his new car until he has a larger down payment. He wants to determine what his monthly payment would be if he earned a full year of quarterly bonuses. Assuming Jim received the same quarterly bonuses for all 4/4 during the year that was based on the net operating income goals described above. Determine his goal bonuses earned for the year, the new loan amount, and the new monthly payment. Round your monthly payment answered to two decimal places. Round all other answers to the nearest whole dollar.

![M Question 3-APPLY - CH 16 Ex M SmartBook: Welcome
x
Project 4
x +
ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%2... ✰
Excel i
Saved
Required information
Applying Excel - Goal Seek and PMT
[The following information applies to the questions displayed below.]
This Applying Excel worksheet includes an explanation of the Goal Seek function and the PMT formula.
Applying Excel-Goal Seek and PMT: Exercise (Part 2 of 2)
Keeping all other data the same as in the original example, change the targeted operating income goal for the quarter, units sold for
January and February, and price per unit and variable expense per unit for all three months to match the information below:
Targeted operating income for the quarter = $11,800
Income Statement
January February March
Units Sold
1,180
930
Price per unit
$ 4.00
Variable expense per unit
$ 1.00
$ 4.00
$ 1.00
$4.00
$1.00
Required:
2a. Using Goal Seek in Excel, determine the total number of units Jim needs to sell in March in order to meet his targeted operating
income for the quarter. (Round your answer up to the nearest unit.)
Total number of units to sell in March
2
#3
W
E
D
20
$4
888
%
5
9
< Prev
3
of 3
Next >
61
MacBook
&
7
8
R
T
Y
U
F
―の
G
H
J
K
O
O
P](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9af6ba29-c85f-411d-acdb-86ec361947fd%2F24414cbd-dee7-4a7c-bed3-bf6956c99b7b%2Ffj9uvh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:M Question 3-APPLY - CH 16 Ex M SmartBook: Welcome
x
Project 4
x +
ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%2... ✰
Excel i
Saved
Required information
Applying Excel - Goal Seek and PMT
[The following information applies to the questions displayed below.]
This Applying Excel worksheet includes an explanation of the Goal Seek function and the PMT formula.
Applying Excel-Goal Seek and PMT: Exercise (Part 2 of 2)
Keeping all other data the same as in the original example, change the targeted operating income goal for the quarter, units sold for
January and February, and price per unit and variable expense per unit for all three months to match the information below:
Targeted operating income for the quarter = $11,800
Income Statement
January February March
Units Sold
1,180
930
Price per unit
$ 4.00
Variable expense per unit
$ 1.00
$ 4.00
$ 1.00
$4.00
$1.00
Required:
2a. Using Goal Seek in Excel, determine the total number of units Jim needs to sell in March in order to meet his targeted operating
income for the quarter. (Round your answer up to the nearest unit.)
Total number of units to sell in March
2
#3
W
E
D
20
$4
888
%
5
9
< Prev
3
of 3
Next >
61
MacBook
&
7
8
R
T
Y
U
F
―の
G
H
J
K
O
O
P
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