can someone please walk me through this step by step? i dont feel like my end re
ID: 3315884 • Letter: C
Question
can someone please walk me through this step by step? i dont feel like my end result is correct.
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.
Instructions:
For the purpose of grading the project you are required to perform the following tasks:
Step
Instructions
Points Possible
1
Open the download file exploring_e06_grader_Capstone.xlsx.
0
2
Create appropriate range names for Total Production Cost (cell B18) and Gross Profit (cell B21) by selection, using the values in the left column.
0.75
3
Edit the existing name range Employee_Hourly_Wage to Hourly_Wages2018.
0.75
4
Use the newly created range names to create a formula to calculate Net Profit (in cell B22).
1
5
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.
1.25
6
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.
0.5
7
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.
0.75
8
Complete the one-variable data table in the range F3:H22 using cell B4 as the column input cell, and then format the results with Accounting Number Format with two decimal places.
1.25
9
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.
0.75
10
Copy the number of gallons produced substitution values from the one-variable data table, and then paste the values starting in cell E26.
1
11
Type $15 in cell F25. Complete the series of substitution values from $15 to $40 at $5 increments.
1
12
Enter the reference to the net profit formula in the correct location for a two-variable data table.
1
13
Complete the two-variable data table in the range F26: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.
2.5
14
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.
0.75
15
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.
1
16
Create a second scenario named Worst Case, using the same changing cells. Enter these values for the scenario: 100, 25, and 20.
1
17
Create a third scenario named Most Likely, using the same changing cells. Enter these values for the scenario: 150, 25, and 15.
1
18
Generate a scenario summary report using the cell references for Total Production Cost and Net Profit.
1.25
19
Load the Solver add-in if it is not already loaded. Set the objective to calculate the highest Net Profit possible.
1.25
20
Use the units sold as changing variable cells.
1
21
Use the Limitations section of the spreadsheet model to set a constraint for raw materials.
1
22
Set a constraint for labor hours.
1
23
Set a constraint for maximum production capability.
1
24
Solve the problem. Generate the Answer Report and Keep Solver Solution.
1.25
25
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.
1
26
Save and close the file. Based on your instructor’s directions, submit exploring_e06_grader_Capstone.xlsx.
0
Here is the excel sheet.
Step
Instructions
Points Possible
1
Open the download file exploring_e06_grader_Capstone.xlsx.
0
2
Create appropriate range names for Total Production Cost (cell B18) and Gross Profit (cell B21) by selection, using the values in the left column.
0.75
3
Edit the existing name range Employee_Hourly_Wage to Hourly_Wages2018.
0.75
4
Use the newly created range names to create a formula to calculate Net Profit (in cell B22).
1
5
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.
1.25
6
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.
0.5
7
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.
0.75
8
Complete the one-variable data table in the range F3:H22 using cell B4 as the column input cell, and then format the results with Accounting Number Format with two decimal places.
1.25
9
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.
0.75
10
Copy the number of gallons produced substitution values from the one-variable data table, and then paste the values starting in cell E26.
1
11
Type $15 in cell F25. Complete the series of substitution values from $15 to $40 at $5 increments.
1
12
Enter the reference to the net profit formula in the correct location for a two-variable data table.
1
13
Complete the two-variable data table in the range F26: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.
2.5
14
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.
0.75
15
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.
1
16
Create a second scenario named Worst Case, using the same changing cells. Enter these values for the scenario: 100, 25, and 20.
1
17
Create a third scenario named Most Likely, using the same changing cells. Enter these values for the scenario: 150, 25, and 15.
1
18
Generate a scenario summary report using the cell references for Total Production Cost and Net Profit.
1.25
19
Load the Solver add-in if it is not already loaded. Set the objective to calculate the highest Net Profit possible.
1.25
20
Use the units sold as changing variable cells.
1
21
Use the Limitations section of the spreadsheet model to set a constraint for raw materials.
1
22
Set a constraint for labor hours.
1
23
Set a constraint for maximum production capability.
1
24
Solve the problem. Generate the Answer Report and Keep Solver Solution.
1.25
25
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.
1
26
Save and close the file. Based on your instructor’s directions, submit exploring_e06_grader_Capstone.xlsx.
0
Explanation / Answer
Step 1 : Open the excel file "exploring_e06_grader_Capstone.xlsx"
Step2: Select cell B18. Then go to Formula tab - Define Names tab in Defined Named section
?Enter the "Total_Production_Cost" in the Name field and click ok
Step3: Select cell B21. Then go to Formula tab - Define Names tab in Defined Named section
?Enter "Gross_Profit" in the Name field and click ok
Step 4: To Edit the existing name range Employee_Hourly_Wage to Hourly_Wages2018.? - Formula tab - Name Manager tab in Defined Named section - Select the name "Employee_Hourly_Wage" Press Edit - Change the Name to "Hourly_Wages2018"
Step 5: Select cell B22 enter the formula " Gross_Profit-Total_Production_Cost
Step 6: ?Click on the "+" icon next to the sheet name a new sheet is created- right click on the new sheet name and select rename- "Range Names" ?Select Cell A1 - Type the newly created range info Type "Gross_Profit" - B22 and ""Total_Production_Cost"- B18
Step 7: ?Go to sheet 'Forecast" select E3. Enter 10, Select E4 enter 20 .. continue till 200 will increment of 10.
Step 8 Select the one-variable-data table in cell F2 enter "=Total_Production_Cost," in cell G2 enter "=Gross_Profit" , and in cell H2 enter "=" and select the Net profit value cell
Step 9 ?Now select the range from E2 to H22 Your selection will include the references you entered in Step 8 and 9. Go to "what if analysis" - Data table. In the pop up box enter the column input range as B4
Step 10 Now format the data as acounting with two decimals.Select cell F2 go to Format Cells - choose Custom format- Choose the general option.now in the text bocx below type Enter " Total Production Cost" Press ok, Now cell F2 wil display " Total Production Cost". Repeat the same for the cell G2 andH2.
Step 11: Now copy the values entered E3 to E22 and paste it in E26 . ?Select F25. Enter 15, Select G25 enter 20 .. continue till 40 will increment of 5.
Step12 ? In cell E25 enter "=Gross_Profit- Total_Production_Cost", Now go to "what if analysis" - Data table. In the pop up box enter the row input range as B6 column input range as B4 ( these are where the input and employee hourly wage values are present). This would populate the table,format the number as accounting two decimals.
Step 13 Select cell E25 go to Format Cells - choose Custom format- Choose the general option.now in the text bocx below type Enter " Wages" Press ok,
Step 14 Select Whatif Analysis - Senario Manager - Add - Enter senario name as"Best Case", in changing cells choose" B4: B6. press enter Enter values" 200, 30, 15" . Add another senario senario name as"Worst Case", in changing cells choose" B4: B6. press enter Enter values" 100, 25, 20" Add another senario senario name as"Most likely", in changing cells choose" B4: B6. press enter Enter values" 150, 25, 15"
Step 15 Select Whatif Analysis - Senario Manager - Summary - Enter the Result Cell box B18, B22
Step 16 File - options- add-in -press go it will open the add-in dialog box, enable solver add-in
Step 17 ?Open the Solver from Data Analysis, In the objective select the cell with Net Profit value (B22) choose the radio button Max, In by changing cell dialog select cell B4. Press the add button to add constraints for raw materials, labour hours and total production capacity. Press Solve - will give you the solver results.
Step 18 ? ?go to view - pagelayout view. this will provide you option to enter header and footer
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