Bus 145-D09 Midterm Exam #2 April 2020

Overview:

Please use the starting file provided by your instructor to answer the questions below. For all responses,
it is expected that you will adhere to the ‘best practices’ in spreadsheets – as discussed in class. As a
reminder, these are:

1. Keep your formulas and functions as simple as possible ( no extra or un-necessary characters )
2. Use cell references whenever possible over actual numbers – note: this is not always possible
but I am asking you to consider these options.
3. Use absolute references only when needed ( when the formula will be dragged somewhere…)

Good Luck! - Remember to save your work often!

Part 1: 60 points.
Q1. Dowloand the starting file and rename it yourname_midterm2. ( 1 mark ) Note : there are several
different worksheets in this file – make sure you are on the right one for each question.

Q2 . On the ‘Subtotals’ worksheet, use the subtotal tool to insert subtotals that show the average # of
days rented for each vehicle type. Show the grand (average) at the bottom. Using your results, what is
the average # of days rented for ‘Luxury’ rentals? _________________________ ( 3 pts)

Switch to the ‘Logic’ worksheet for questions 3-5….

Q3. In cell H7, enter a logical function that will calculate the bonus (using the % in cell H2 and the
salaries in column G) If the employee has worked for the company for 5 years or more. If they have
worked less than five years, the function should return ‘0’. Make sure this function is set up so that it
can be dragged down the column, then do so. Format the results to ‘currency’. (3 pts )

Q4. In I7, insert another logical function that will return the words “Due for a Raise” if the employee is a
Manager making less than $70,000.00 ( try to use F1 in your function ). If not, the function should say
“No Increase”. Check to see if it works when you ‘drag’ it down the column and troubleshoot if
necessary. (4 pts )

Q5. Use conditional functions to find the appropriate answers for cells E29, E30 and E31. Format
answers to ‘currency’ where appropriate. (6pts)

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Bus 145-D09 Midterm Exam #2 April 2020

Switch to the ‘Finance’ sheet for questions 6-9

Q6. In C9, enter a function that will calculate your total costs for this trip to Kaua’i. (1 pt)

Q7. You are going to borrow money from the bank for the full cost of this trip, and pay it back in
monthly payments over 1 year. In C15, enter a financial function that will calculate what your monthly
payment amount will be. (3 pts)

Q8. In C17, use a function to calculate the cumulative interest (the total interest) when you have paid
off the loan. In D19, enter a function or formula to calculate total cost– including interest- on the loan?
______________ . (3 pts)

Q9. (still on the Finance worksheet ) You decide to explore some other vacation options. Use the
scenario manager tool to create report that will display the impact on the monthly payment and total
interest paid for the following different holidays (6pts)

Kauai: Use the values for flight, hotel and food as provided in B5:B7.

Mexico: Flight – $375.00, hotel- - $850.00, Food - $150.00

Thailand: Flight: $1650.00, hotel – 1000.00, food – $0.00 (all-inclusive)

Modify the resulting report so all cells make sense to a reader (replace the cell names with words that
indicate what they refer to) and save the sheet as ‘holiday options’.(3 pts)

Switch to the ‘Database’ worksheet for questions 10-12

This worksheet contains data exported from a query in our ‘ToolsRUs’ Project.

Use Database functions to answer the questions below. In all cases, ensure you select only the
required criteria so that previous answers are not altered. Format all monetary answers to ‘currency’.

Q10. Use a database function in N17 that will count how many rental transactions were for more than 1
day. You will have to set your criteria in the appropriate place to answer this question. (3pts)

Q11. Use a database function in N18 that will find the rental with the highest ‘transaction price’ that
was handled by Albus or Luna. Please write you answer here _______________________ (3pts)

Q12. Use a database function in N19 that will find the average transaction price for table saw rentals
paid by visa. (3pts)

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Bus 145-D09 Midterm Exam #2 April 2020

Switch to the ‘Pivot Tables’ worksheet for the remaining questions.

Q13. Turn the data on this sheet into a pivot table – on a new worksheet called yournamePV. (3pts)

Q14. Set up the pivot table so that the sum of the transaction price can be seen for each employee.
Format this field so display the values in ‘currency’ format. (3pts)

Q15. Add a 2nd transaction price field to the values box and alter it so that is shows as ‘% of grand total’.
Which employee was responsible for 2.76% of the total? ____________________________(4pts)

Q16. Add the appropriate field to the table so that a filter can be applied to see the results by # of days
rented. Set the filter to only show records that were rented for 10 days. Who is the employee
responsible for these sales? _________________ (3pts)

Q17. Undo the filter ( so all ‘days rented’ are showing ). Add a calculated field that will add 5% tax to
the transaction price. Set the results in ‘currency’ format. (5pts)

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Bus 145-D09 Midterm Exam #2 April 2020

Part 2: 30 points

Use the CMW Forecasting sheet for the following questions:

Your task is to build a forecasting model for the CMW Electronic Pet Feeders Company. You will create a
forecasting model for the domestic division of the company, create a data table and create a
professional looking chart that displays the results

Q1. Input the basic assumptions into the cells provided (B5:B8 and B14:B18) from the table below.
Note: All growth percentages are for year 2 onwards. (1 marks )

Domestic

Sales ( year 1 ) $1,500,000

Labor Costs ( year 1 ) $450,000

Material Costs ( year 1) $375,000

Overhead ( year 1 ) $600,000

Sales Growth per year 5%

Labor Cost Growth per year 2%

Material Cost Growth per year 3%

Tax Rate 25%

Q2. Complete the CMW- Domestic Division Income statement ( E5:J14 for years 1 to 5
( 9 marks )

All formulas must be linked to the basic inputs ( from Q 1 above ) so that changes in
these values will change the corresponding calculations in the income statement.

Hint: Tax is only payable if there is a net pretax income. No Income – or a loss
(negative income) means no tax is paid.

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Bus 145-D09 Midterm Exam #2 April 2020

Q3. Complete the structure of the 1 variable data table in cells E21:J27. This table
should display what the net income would be for each of the 5 years if the projected
sales growth changes from 3% to 8% in 1% intervals. This work has been started – but
not finished – to provide some hints. (5 marks )

Q4. Use the ‘data table’ command ( under what if analysis ) to complete the data table
and format the results to currency. ( 5 marks )

Q5. Insert a chart ( your choice ) that displays the net income from F14:J14. Use your
best judgement to make sure this chart is properly labelled and visually appealing ( 5
marks ).

Q6. Protect the worksheet so that only the basic input cells can be altered – and the
rest of the worksheet is protected. Please do not use a password – and do not apply
protection to the rest of the exam (Forecasting model worksheet only…). ( 5 marks )

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Bus 145-D09 Midterm Exam #2 April 2020

Part 3: 10 Marks

Switch to the ‘Ice Cream’ worksheet for the final challenge below:

3 Victoria kids are thinking of starting a small business selling ice cream from a bicycle ( see image for
a bit of a visual ). They are having trouble trying to estimate how much money they might make, so
they are asking you to create a spreadsheet to help. For this exercise, things are considerably
simplified. This is a challenge in creating something from a blank worksheet. Marks will be split
between the basic set up ( 5 marks ) and actually coming up with a correct answer (5 marks ). Part
marks will be awarded ☺

Goal: Your calculator should allow the kids to make an estimation of their potential profits from
selling ice cream this summer. Some important
assumptions and inputs are listed below:

Fixed costs include:

• Annual liability insurance: $500.00

• Annual License Fee: $100
• Annual VIHA ( Health Authority ) Fees : $75

Variable Costs include:

• Pre-packaged ice cream – sold in boxes of

24, cost $19.95
• Dry ice – enough for 1 day – costs $20.00

Other important information:

• Each ice cream will be sold for $4.00

• The cart can hold 50 ice creams maximum
• The kids are… well, kids…. So they plan to go out only once per day – selling all their inventory
(50 ice creams) - then going to the beach to relax from the hard work. The next day, they will
need to buy another block of ice and repeat…

Use your tool to answer the following questions…

1. Given the information above, what are the variable costs per ice cream? _______________
2. What is the profit per ice cream (not including fixed costs )?________________
3. How many ice creams need to be sold to break even with the fixed costs?_______________

That’s It! We’re done! Have a great summer break!

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