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Daycare

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32 views2 pages

Daycare

Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Day-care (100 Points)

Data File needed for this exercise: Daycare.xlsx


You and your partner are planning to open an afternoon home daycare business. Expenses
include snacks, furniture, part-time help, play equipment and inside activities (toys, books,
etc.…). The only source of income is the tuition. Your goal is to balance the income and
expenses, decide on the most appropriate tuition price per child, how many children to
accept, and ensure that your business makes a profit of at least $5000 per month.

Enter Your Name and Student ID


(a) Open the workbook called Daycare.xlsx and save it as Durham Daycare.xlsx.
(b) Add a new worksheet and rename as Documentation. In cell A1 enter your name. In cell
A2
enter your student number. In cell A3 enter this exercise completion date. In cell A4 enter a
sentence to describe the purpose of the workbook.
(c) Save your workbook.

Goal Seek
(a) Using the Budget worksheet, use Goal Seek to determine the monthly tuition price per
student required for your family to earn a profit (Net Income) of $5,000. Keep the Goal Seek
result.
(b) Save your workbook.

One-Variable Data Table


You believe that between 5 and 15 students will attend. You decide to create a one-variable
table to compare the budget effects based on different numbers of students attending.
(a) Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at
increments of 1, vertically down column E.
(b) Enter references to the tuition revenue, total expenses and net income formulas in the
correct
location for a one-variable data table.
(c) Complete the one-variable data table, and then format the results with Accounting
Number
Format with two decimal places.
(d) Apply custom number formats to make the formula references appear as Revenue,
Expenses and Net Income. Apply Bold and Center to these labels.
(e) Save your workbook.

Two-Variable Data Table


You want to compare different combinations of students and tuition prices using a two-
variable data table.
(a) Copy the number of student substitution values from the one-variable data table (E3:E13),
and then paste the values starting in cell E22.
(b) Type 450 in cell F21. Complete the series of substitution values from 450 to 700, at
increments of 50, horizontally on row 21.
(c) Enter the reference to the net income formula in the correct location for a two-variable
data
table.
(d) Complete the two-variable data table, and then format the results with Accounting
Number
Format with two decimal places.
(e) Apply conditional formatting rule to highlight balance amounts between $4500 and $5500
balance.
(f) Apply a custom number format to cell E21 to make the formula reference contain a
descriptive column heading of “# of Stud.” and then format the headings on row 21 for the
two-variable data chart with Bold. Apply Accounting Number Format to the values in cells
F21:K21.
(g) Save the workbook.

Scenario Manager and Formatting


You realize that having 12 students is the ideal situation. You decide to use Scenario
Manager to help you determine scenarios with 12 students when tuition and snack costs are
changed.
(a) Create a scenario named 12 Attend Low, using the number of students, monthly snack
costs and the monthly tuition price as changing variables. Enter these values for the scenario:
12, 50, and 600.
(b) Create a scenario named 12 Attend Med, using the number of students, monthly snack
costs and the monthly tuition price as changing variables. Enter these values for the scenario:
12, 55, and 600.
(c) Create a scenario named 12 Attend High, using the number of students, monthly snack
costs
and the monthly tuition price as changing variables. Enter these values for the scenario: 12,
60,
and 650.
(d) Generate a scenario summary report using the tuition revenue, total expenses, and net
income as the results.
(e) Format your workbook as desired (Headings, Font, Fill color, Number format…).
(f) Save and close your workbook.

Submission Guideline:
Using your Google class, please submit your solution files by no later than August 8th,
2020 at 11:59PM.

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