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3. Dan is looking to create a graph of where his spending is going in a single month. What piece of information does he have for his expense section to do this? The difference in the planned and the actual expenses for the month. Percentage of how much of the expense is of his total expenses. Date the expense was documented. The difference in the planned and the actual income for the month. X Incorrect Incorrect. Please review task 4 for more information on this topic. 4. Let's say you want to find the 3 biggest spend categories for your family in the budget. What is the best way to see that information? Looking at your budget spreadsheet and seeing the largest amounts you spent. Creating a file with the most expensive bill for the month in the front and putting them in order This \text{create a pie graph to see what the 3 largest from Coursera are for your expense} https://www.coursera.org/learn/creating-budget-microsoft-excel/exam/V3GC9/assess-your-knowledge/attempt?redirectToCover=true https://www.coursehero.com/file/163471365/Assess-Your-Knowledge-Coursera3pdf/ 8/27/22, 8:57 PM Assess Your Knowledge | Coursera Reviewing your checkbook entry to see what the three biggest checks you wrote for the month was. Incorrect Incorrect. Please review task 4 for more information on this topic. 0/1 point 0/1 point 1/3
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According to the text, Dan needs the following information for his expense section: - The difference in the planned and the actual expenses for the month. - Percentage of how much of the expense is of his total expenses. - Date the expense was documented. Show more…
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1. Open the Stefanek workbook located in the Excel4 > Case1 folder included with your Data Files, and then save the workbook as Stefanek Budget in the location specified by your instructor. 2. In the Documentation worksheet, enter your name in cell B3 and the date in cell B4. 3. In the Budget worksheet, in the range B3:B8, enter the parameters for a $285,000 mortgage at 4.3% annual interest paid back over 25 years. Calculate the interest rate per month and the total number of payments. 4. In cell B10, calculate the amount of the monthly payment needed to pay back the mortgage. 5. In the range C15:N15, calculate the total income from Edmund and Lydia's monthly salaries. 6. In the range C22:N22, use an absolute reference to insert the monthly mortgage payment you calculated in cell B10. 7. In the range C24:N24, calculate Edmund and Lydia's total expenses per month. 8. In the range C25:N25, calculate the couple's monthly net income by adding their income and their expenses. (Note that expenses are entered as negative values.) 9. In the range C28:C40, calculate the averages for the income and expenses from the 12-month budget. 10. In the range C28:C40, add data bars to the values. Note that negative data bars are displayed to the left of the center point in the cell, whereas positive data bars are displayed to the right. 11. In the range D28:D40, insert line sparklines using the values from the range C13:N25 to show how the different budget entries change throughout the year. 12. Create a pie chart of the income values in the range B28:C29 to show the breakdown of the family income between Edmund and Lydia. Resize the chart to cover the range E27:I40. Change the chart title to Income and apply the Style3 chart style to the chart. 13. Create a pie chart of the expenses values in the range B31:C38. Resize the chart to cover the range J27:N40. Change the chart title to Expenses and apply the Style3 chart style to the chart. Change the position of the data labels to data callouts. If any data labels appear to overlap, select one of the overlapping data labels, and drag it to another position. 14. Save the workbook, and then close it.
Shyam P.
(Appendix 3A) Method of Least Squares Farnsworth Company has gathered data on its overhead activities and associated costs for the past 10 months. Tracy Heppler, a member of the controller's department, has convinced management that overhead costs can be better estimated and controlled if the fixed and variable components of each overhead activity are known. One such activity is receiving raw materials (unloading incoming goods, counting goods, and inspecting goods), which she believes is driven by the number of receiving orders. Ten months of data have been gathered for the receiving activity and are as follows: Month Receiving Orders Receiving Cost 1 1,000 $518,000 2 700 $15,000 3 500 $28,000 4 1,200 $17,000 5 300 $25,000 6 100 $21,000 7 600 $29,000 8 1,400 $24,000 9 1,700 $27,000 10 900 $16,000 Suppose that Tracy has gathered two more months of data: Month Receiving Orders Receiving Cost 11 1,200 $528,000 12 950 $17,500 Note: For the following requirements, round the intercept to the nearest dollar, round the variable rates to the nearest ten cents, and round the R2 values to two decimal places. Required: Run two regressions using a computer spreadsheet program such as Excel. First, use the method of least squares on the first 10 months of data. Then, use the method of least squares on all 12 months of data. Select the results for the intercept, slope, and R2 for each regression. Enter the R2 values as decimals with two decimal places rather than as percentages. 10 Months Data Intercept: $3,212 Slope: 15.15 R2: 0.92 12 Months Data Intercept: $3,820 Slope: 15.10 R2: 0.86
Evelyn C.
Cottage Industries Ltd makes baskets. The fixed costs of operating the workshop for the month total $1,500. Each basket requires materials which cost $6. Each basket takes two hours to make and the business pays the basket-makers $9 per hour. The basket-makers are all on contracts that specify that if they do not work, for any reason, they are not paid. The baskets are sold to wholesalers for $30 each. In addition, there is a fixed handling fee of $55 to all the wholesalers. Break-even graph: What is the break-even number of orders? (4 marks) What is the corresponding break-even revenue? (1 mark) (iii) Draw the break-even graph using EXCEL. Present appropriate calculations plus a copy of your EXCEL graph. Indicate on your graph the region corresponding to profits and the region corresponding to losses. (8 marks) EXCEL Instructions to produce break-even graph: Create a column called "Number of orders" and in that column, enter values from 0 to 400 in increments of 20. Then create two more columns, one for "Total Cost" and another for "Total Revenue". Enter appropriate formulas in EXCEL to obtain the total cost and total revenue corresponding to each value in the "Number of orders" column. Highlight the resulting three sets of numbers and go to "Insert Charts Scatter" to obtain the graph. Make sure that your graph has been labeled appropriately (i.e. title, axis labels, legend) and that your chart title includes your student ID. Refer to Topic 3 in the EXCEL Booklet for further instructions on entering formulas and graphing in EXCEL. Cottage Industries Ltd expects to sell 500 baskets per month. The business has the opportunity to rent a basket-making machine. Doing so would increase the total fixed costs of operating the workshop for the month to $6,000. Using the machine would reduce the labor time to one hour per basket. The basket-makers would still be paid $9 an hour. b) How much profit would the business make each month from selling baskets, assuming the business does not rent the basket-making machine? (2 marks) Assuming that it is rented? (2 marks) What is the break-even point if the machine is rented? (2 marks)
Adi S.
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