Grader Instructionsexcel 2019 Projectexp19 Excel Ch06 Capassessment ✓ Solved

Grader - Instructions Excel 2019 Project Exp19_Excel_Ch06_CapAssessment_Delta_Paint Project Description: You are the production manager for Delta Paint, a regional manufacturing company that specializes in customized paints. Your company sells paint by the gallon, and you have the task of forecasting the best production blends to maximize profit and most effectively utilize resources. Steps to Perform: Step Instructions Points Possible 1 Download and open the file named Exp19_Excel_Ch06_Cap_DeltaPaint.xlsx . Grader has automatically added your last name to the beginning of the filename. Create appropriate range names for Total Production Cost (cell B18) and Gross Profit (cell B21) by selection, using the values in the left column.

Edit the existing name range Employee_Hourly_Wage to Hourly_Wages2021 . Note, Mac users, in the Define Name dialog box, add the new named range, and delete the original one. Use the newly created range names to create a formula to calculate Net Profit (in cell B22). Net Profit = Gross Profit - Total Production Cost. Create a new worksheet labeled Range Names , paste the newly created range name information in cell A1, and resize the columns as needed for proper display.

On the Forecast sheet, start in cell E3. Complete the series of substitution values ranging from 10 to 200 at increments of 10 gallons vertically down column E. Enter references to the Total_Production_Cost , Gross_Profit , and Net Profit cells in the correct locations (F2, G2, and H2 respectively) for a one-variable data table. Use range names where indicated. Complete the one-variable data table in the range E2:H22 using cell B4 as the column input cell, and then format the results with Accounting Number Format with two decimal places.

Apply custom number formats to make the formula references appear as descriptive column headings. In F2, Total Costs ; in G2, Gross Profit , in H2, Net Profit . Bold and center the headings and substitution values. Copy the number of gallons produced substitution values from the one-variable data table, and then paste the values starting in cell E26. Type in cell F25.

Complete the series of substitution values from to at increments. Enter the reference to the net profit formula in the correct location for a two-variable data table. Complete the two-variable data table in the range E25:K45. Use cell B6 as the Row input cell and B4 as the Column input cell. Format the results with Accounting Number Format with two decimal places.

Apply a custom number format to make the formula reference appear as a descriptive column heading Wages . Bold and center the headings and substitution values where necessary. Create a scenario named Best Case , using Units Sold, Unit Selling Price, and Employee Hourly Wage (use cell references). Enter these values for the scenario: 200 , 30 , and 15 . Create a second scenario named Worst Case , using the same changing cells.

Enter these values for the scenario: 100 , 25 , and 20 . Create a third scenario named Most Likely , using the same changing cells. Enter these values for the scenario: 150 , 25 , and 15 . Generate a scenario summary report using the cell references for Total Production Cost and Net Profit. Load the Solver add-in if it is not already loaded.

Set the objective to calculate the highest Net Profit possible. Use the units sold as changing variable cells. Use the Limitations section of the spreadsheet model to set a constraint for raw materials (The raw materials consumed must be less than or equal to the raw materials available). Use cell references to set constraints. Set a constraint for labor hours.

Use cell references to set constraints. Set a constraint for maximum production capability. Units sold (B4) must be less than or equal to maximum capability per week (B7). Use cell references to set constraints. Solve the problem.

Generate the Answer Report and Keep Solver Solution. Create a footer on all four worksheets with your name on the left side, the sheet name code in the center, and the file name code on the right side. Save and close Exp19_Excel_Ch06_Cap_DeltaPaint.xlsx . Exit Excel. Submit the file as directed. 0 Total Points 100 Created On: 02/16/2021 1 Exp19_Excel_CH06_CAPAssessment - Delta Paint 1.2

Paper for above instructions

The project presented is a comprehensive capstone assessment requiring proficiency in Excel to manage data effectively for Delta Paint, a regional manufacturing company. The objective is to forecast production blends and maximize profits using various Excel functionalities, including range naming, data tables, scenarios, and using the Solver add-in. Below is a detailed guide on how to complete the project step-by-step.

Step-by-Step Solution

Step 1: Setup Named Ranges

1. Download and Open the Excel File: Start by downloading the provided Excel file `Exp19_Excel_Ch06_Cap_DeltaPaint.xlsx`.
2. Creating Named Ranges:
- Select cell B18, which represents Total Production Cost, and create a named range called `Total_Production_Cost`.
- Select cell B21, which represents Gross Profit, and name it `Gross_Profit`.
- Edit the existing range name `Employee_Hourly_Wage` to `Hourly_Wages2021` to keep the document consistent with the current year.

Step 2: Calculating Net Profit

3. Formula for Net Profit:
- In cell B22, enter the formula:
\[
\text{Net Profit} = \text{Gross Profit} - \text{Total Production Cost}
\]
- Use the newly created named ranges:
\[
= Gross_Profit - Total_Production_Cost
\]
4. Create a New Worksheet:
- Label it `Range Names`.
- Paste the named range information starting from cell A1 and resize the columns appropriately for clarity.

Step 3: Create a One-Variable Data Table

5. Forecast Sheet Setup:
- Navigate to the Forecast sheet.
- In cell E3, enter the series of values: from 10 to 200 in increments of 10 gallons vertically down Column E.
6. Entering Formula References:
- In F2, place a reference to `Total_Production_Cost`.
- In G2, reference `Gross_Profit`.
- In H2, reference `Net_Profit`.
7. Generate One-Variable Data Table:
- Highlight the range E2:H22.
- Use cell B4 as the column input cell.
- Format this table with the Accounting Number Format with two decimal places.
- Customize column headings in F2, G2, and H2 to be `Total Costs`, `Gross Profit`, and `Net Profit` respectively. Bold and center these headings for better visibility.

Step 4: Two-Variable Data Table

8. Copy and Paste Gallons:
- Copy values from the one-variable data table and paste them starting in cell E26.
9. Input Wage Values:
- In cell F25, type ``.
- Create a series from to in increments down Column F.
10. Creating a Two-Variable Data Table:
- In range E25:K45, use cell B6 as the row input cell and B4 as the column input cell.
- Format the results in this table using the Accounting Number Format with two decimal places.
- Label the column heading in the first row as `Wages` and bold the relevant headings and substitution values.

Step 5: Scenario Creation and Summary

11. Creating Scenarios:
- Name the first scenario `Best Case` with the values 200 (Units Sold), (Unit Selling Price), and (Employee Hourly Wage).
- Name the second scenario `Worst Case` with 100, , and respectively.
- Name the third scenario `Most Likely` with values 150, , and .
12. Scenario Summary Report:
- Generate a scenario summary report selecting Total Production Cost and Net Profit.

Step 6: Utilize Solver

13. Setting Up Solver:
- Access the Solver add-in and set the objective to maximize Net Profit (cell B22).
- Designate B4 as the changing variable for units sold.
14. Constraints:
- Use cell references to ensure raw materials consumed are less than or equal to available materials.
- Constrain labor hours and set maximum production capability, ensuring that units sold (B4) do not exceed maximum capability per week (B7).
15. Solve the Problem:
- Run Solver, generate an Answer Report, and make sure to keep the Solver solution.

Step 7: Formatting and Finalizing

16. Creating Footers:
- On all worksheets, add a footer with your name on the left, sheet name code in the center, and file name on the right side.
17. Saving and Closing:
- Save your work and close the Excel file.

Conclusion

This project not only enhances your proficiency in Excel but also equips you with practical skills applicable in real-world scenarios like production management, forecasting, and data analysis. By following the outlined steps meticulously, you ensure that all aspects of the project are thoroughly completed, leading to optimal utilization of resources and maximized profitability for Delta Paint.

References

1. Microsoft. (2023). Excel Formulas and Functions. Retrieved from [Microsoft Excel Help](https://support.microsoft.com/en-us/excel)
2. Wiley. (2020). Excel 2019 for Dummies. Wiley Publishing.
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5. Adler, D. (2019). Advanced Excel Reporting for Management Accountants. Wiley.
6. Berenson, M. L., & Levine, D. M. (2019). Basic Business Statistics: Concepts and Applications. Pearson.
7. Excel Campus. (2023). Excel Data Tables: A Complete Guide. Retrieved from [Excel Campus](https://www.excelcampus.com)
8. Excel Easy. (2021). Excel Scenarios - Data Tables. Retrieved from [Excel Easy](https://www.excel-easy.com)
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10. Peltier, T. W. (2018). Excel Charting and Data Visualization. Peltier Technical Consulting.
These established resources help provide further learning and reference points for a comprehensive understanding of Excel functionalities.