Step-by-Step Microsoft Excel XP:

Product Pricing
Step-by-Step Microsoft Excel XP: Product Pricing provides guided instructions for
completing Exercise 2.4: Determining and Comparing the Unit Price of Similar Items
Getting the Best Buy. In this exercise you will access the online grocery shopping site
and choose three different brands of the same product. You will then record on the
ProductPricing Excel worksheet the cost information provided from the online site.
Below is an illustration of the ProductPricing Excel worksheet you will be working on with
a sample of one product (three different brands of raisin bran cereal) completed for you:

1. Open the Excel template ProductPricing (the file can be found in the Step-byStep folder for Project 4 Consumers\Student Lessons\).
2. Save the file as YourNameProductPricing
3. Six columns (A-F) will be used for this exercise. Each column is labeled in the
Row 1 cell for that column:
Column A = Product Brand
Column B = Total Price
Column C = Volume of Product
Column D = Unit of Measurement
Column E = Cost per Unit
Column F = Best Buy (mark with X)

Project 4 Consumers
Step-by-Step Excel XP: Product Pricing

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Formatting Cells for Text Data Entry

1. Columns A, D, and F the data entry will be text. The column must be formatted
for text data entry.
2. On the ProductPricing worksheet, select Column A by clicking on the Column A
Heading.
Column Heading

Row
Heading

3. On the Format menu, select Cells. The Format Cells dialog box will appear.
4. Click the Number tab, then under Category select Text.
5. Click on the Alignment tab and under Text control select the Wrap text check
box. This will allow the text to wrap within a cell and increase the height of the
row.
6. Click OK to close the Format Cells dialog box.

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Step-by-Step Excel XP: Product Pricing

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7. Repeat steps 2 through 6 above for columns D and F.

Formatting Cells for Currency Data Entry

1. Columns B and E will be formatted for currency data entry.
2. Both Column B and E can be selected by first selecting Column B, and then
holding down CTRL and selecting Column E.
Column Heading

Row
Heading

3. On the Format menu, select Cells. The Format Cells dialog box will appear.
4. Click the Number tab, then under Category select Currency.
5. Next to Decimal places type or select 2.
6. Under Symbol select a monetary value symbol ($).
7. Click OK to close the Format Cells dialog box.
8. Save the file.

Formatting Cells for Currency Data Entry

1. Column C will be formatted for number data entry.
2. Select Column Heading C.
3. On the Format menu, select Cells.
4. From the Format Cells dialog box, click the Number tab, under Category select
Number.
5. Next to Decimal places type or select 2.
6. Click OK to close the Format Cells dialog box.
7. Save the file.

Entering Research Pricing Data

1. Access the online grocery shopping site:
NetGrocer: Grocery Shopping Online
http://www.netgrocer.com
Click on the Grocery tab to see product items to choose from.

Project 4 Consumers
Step-by-Step Excel XP: Product Pricing

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2. From the Select an Aisle left column, under Canned Food select Fruits (a new
page will appear).
3. On the web page that appears select Mixed Fruit.
4. For practice you will use the information provided below first, then you will have
an opportunity to choose other products and enter the new products data into
your worksheet.
Chart 1: Practice Product Pricing
Brand A
Fruit Cocktail

Brand B
Fruit Cocktail

Brand C
Fruit Cocktail

Our Price:
$1.09

Our Price:
$1.05

Our Price:
$0.95

8.00 oz

8.00 oz

8.00 oz

$2.18/lb

$2.10/lb

$1.90/lb

5. Enter the following data into your Excel worksheet, mynameProductPricing:

Select cell A5 and type Brand A Fruit Cocktail

Select cell B5 and type 1.09 (your monetary symbol will appear when you
select the next cell)

Select cell C5 and type 8

Select cell D5 and type ounces

6. Enter your next two Product Brands in cells A6 and A7.

7. Enter the Total Price data for the other two products from above Chart 1 (Our
Price) into cells B6 and B7.
8. Enter the Volume of Product data for the other two products from above Chart 1
in cells C6 and C7.
9. Enter the Unit of Measurement data for the other two products from above Chart
1 in cells D6 and D7.
10. Your worksheet should look like the sample below:

Project 4 Consumers
Step-by-Step Excel XP: Product Pricing

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Calculating Cost per Unit

1. Divide Total Price by the Volume of Product to calculate Cost per Unit. To
calculate cost per unit:
a. Select cell E5
b. Type =
c. Select cell B5
d. Type /
e. Select cell C5
f.

Click Enter.

g. The value in cell E5 should be $0.14.

2. To create a relative reference in cells E6 and E7, select cell E5, grab the fill
handle and drag down to cell E7.

Fill handle
(pointer becomes the fill
handle when placed over
the lower right corner of
the cell)

3. Type an X in the cell in column F that represents the Best Buy (lowest cost per
unit).
4. Now go back to the online shopping site and choose another completely different
product, for another product price comparison between three brands.

Project 4 Consumers
Step-by-Step Excel XP: Product Pricing

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