Excel assignment #3 | Information Systems homework help

  

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.

     

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 $15 in cell F25. Complete the series of substitution   values from $15 to $40 at $5 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.