Exp19 Excel Ch02 Cap Assessment Inland Jewelers Instructions
Exp19 Excel Ch02 Capassessment Inland Jewelers Instructions
As an account manager for Inland Jewelers, a regional company that makes custom class rings for graduating seniors, you are tasked with creating a comprehensive Excel workbook. The workbook should report on new accounts created on payment plans, detailing total costs to the student as well as payment information. Each ring's price varies based on the ring type and personalization options. The primary goal is to develop an accurate and professional report that calculates costs, payments, and totals, formatted appropriately for presentation and printing.
Paper For Above instruction
Creating an Effective Cost and Payment Report for Inland Jewelers
Inland Jewelers specializes in custom class rings for graduating students, offering a variety of ring types and personalization options. Accurately calculating costs and payment schedules is essential for transparency and record-keeping. The creation of a detailed Excel workbook to streamline these calculations involves several steps, including data entry, formula application, formatting, and final presentation adjustments.
Initial Data Setup and Basic Calculations
The foundation of the report begins with opening the provided Excel file, which is pre-named with the user’s last name for easy identification. The first step is inserting a dynamic date in cell B2, achieved by entering the TODAY() function. This ensures the report always displays the latest creation date. Adjusting the column width via AutoFit enhances readability, especially for the date and subsequent data entries.
Next, the ring costs are retrieved using a VLOOKUP function in cell C5. This function references a lookup table where each ring type (Silver, Gold, Titanium, Platinum) has a associated cost. Relative and absolute cell references are used to ensure correct lookups when copying formulas. Dragging this formula down to populate cells C6 through C11 ensures each student’s ring cost is correctly calculated based on their selected ring type. Formatting these costs with the Accounting style enhances clarity and professionalism.
Calculating Total Due with Personalization Fee
The total amount owed by each student depends on whether they select personalization. An IF function in cell E5 evaluates the personalization choice. If the student personalized the ring (indicated by "Yes"), an additional 5% surcharge—stored in cell B21—is added to the base ring cost. Otherwise, the total remains equal to the base cost. Proper cell referencing guarantees that the surcharge applies only when appropriate. Copying this formula down the range E6:E11 produces individual totals, which are then formatted as currency for consistency.
Monthly Payment Computation
Monthly payments are calculated in cell G5 through a formula dividing the total amount due by the number of years chosen. The number of years is retrieved from column D, and absolute references are used to anchor fixed parameters such as the interest rate or the number of months if applicable. This calculation assumes a simple division, ensuring no negative payments occur—thus using the absolute cell references and a function to ensure positivity where necessary. The formula is copied down through G6:G11, and the results formatted with the Accounting style to maintain uniformity.
Total Calculations and Formatting
Totals for ring costs, total due amounts, and monthly payments are calculated in cells C12, E12, and G12 respectively. Summation formulas sum the values above, providing immediate insight into aggregate totals. These totals are also formatted with the Accounting style for clarity.
Page setup adjustments improve print readiness: left and right margins are set to 0.3 inches to maximize workspace, and the print area is confined to a single page for a clean, professional layout. The header footer includes personalized information—your name on the left, sheet name centered, and file name on the right—to facilitate documentation and identification.
Finally, saving and closing the file ensures that all data, formulas, and formatting are preserved. Submitting the completed workbook completes the task, providing a comprehensive, accurate, and professional report on inland jewelers' student ring payments.
References
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