Insurance Beta Manufacturing Employee Withholdings

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Insurance Beta Manufacturing Employee Withholdings Employee ID Status Dependents Salary Deduction Withholding Statistics 7276 FT 4 $ 90,212 Number of FT Employees 9858 PT 2 $ 18,984 Average Salary Full Time 8936 FT 4 $ 42, FT 5 $ 37,191 Additional Information 3852 FT 1 $ 52,528 Average Salary of FT > =1 Dependent 6580 PT 5 $ 17, FT 0 $ 94, PT 3 $ 12,471 Dependents Deduction 8884 FT 4 $ 67, $ 50. FT 5 $ 88, $ 125. FT 4 $ 55, $ 250. FT 1 $ 98, $ 325. PT 1 $ 11, $ 500. PT 0 $ 17, FT 2 $ 66,693 FICA Withholdings 4338 FT 1 $ 84,432 FT at least 1 Dependent 7% 5833 PT 5 $ 18,994 PT or FT No Dependents 5% 6060 FT 4 $ 65, PT 4 $ 18, PT 4 $ 15,525 Employee ID Status Dependents Salary Deduction Withholdings 3488 PT 1 $ 15,861 FT >= PT 4 $ 16, PT 1 $ 9, PT 5 $ 17, FT 1 $ 39, PT 4 $ 19, PT 0 $ 9, PT 4 $ 16, PT 5 $ 13, PT 0 $ 7,688 Facilities Facility Amortization Table Payment Details Loan Details Payment $6,245.45 Loan $325,000.00 APR 5.75% Periodic Rate 0.479% Years 5 # of Payments 60 Pmts per Year 12 Payment Number Beginning Balance Payment Amount Interest Paid Principal Repayment Remaining Balance Cumulative Interest Cumulative Principal Totals $ - 0 $ - 0 $ - 0 Sales March Transactions Search Results Trans # Category Results Date Trans # Item Quantity Payment Type Amount Status 3/1/ Credit $4,/2/ Financed $2,/3/ Credit $/3/ Financed $7,/5/ Credit $1,/7/ Credit $3,/9/ Credit $1,/10/ Credit $2,/10/ Financed $/10/ Financed $2,/11/ Financed $4,/11/ Credit $4,/12/ Financed $2,/13/ Financed $4,/13/ Credit $4,/14/ Credit $5,/18/ Credit $/24/ Credit $/24/ Financed $1,/24/ Cash $6,/28/ Credit $5,/28/ Cash $2,/30/ Credit $4,/30/ Financed $3,/30/ Cash $4,500 Item Quantity Total Value Warehouse A A B C D Grader - Instructions Excel 2019 Project Exp19_Excel_AppCapstone_CompAssessment_Manufacturing Project Description: You have recently become the CFO for Beta Manufacturing, a small cap company that produces auto parts. As you step into your new position, you have decided to compile a report that details all aspects of the business, including: employee tax withholding, facility management, sales data, and product inventory. To complete the task, you will duplicate existing formatting, utilize various conditional logic functions, complete an amortization table with financial functions, visualize data with PivotTables, and lastly import data from another source. Steps to Perform: Step Instructions Points Possible 1 Start Excel. Download and open the file named Exp19_Excel_AppCapstone_ComprehensiveAssessment- Manufacturing.xlsx . Grader has automatically added your last name to the beginning of the filename. Group all the worksheets in the workbook and fill the range A1:F1 from the Insurance worksheet across all worksheets including the formatting. Ungroup the worksheets after the fill is complete and ensure the Insurance worksheet is active. Click cell I5, and enter a function that determines the number of full-time employees, ( FT ). Enter a database function in cell I6 that determines the average salary of all full-time employees with at least one dependent. Format the results in Accounting Number Format. Enter a lookup function in cell E5 that returns the tax deduction amount for the number of dependents listed in the cell C5. Use the table in range H13:I17 to complete the function. The maximum deduction is $500.00; therefore, employees with more than four dependents will receive no additional deductions. Use Auto Fill to copy the function down, completing column E. Be sure to use the appropriate cell referencing. Format the data in column E with the Accounting Number Format. Enter a logical function in cell F5 that calculates employee FICA withholding. If the employee is full-time and has at least one dependent, then he or she pays 7% of the annual salary minus any deductions. All other employees pay 5% of the annual salary minus any deductions. Copy the function down through column F. Format the data in column F with Accounting Number Format. Apply conditional formatting to the range C5:C34 that highlights any dependents that are greater than 3 with Light Red Fill and Dark Red Text. Click cell H10, and enter an AVERAGEIFS function to determine the average salary of full-time employees with at least one dependent. Format the results in Accounting Number Format. Use Advanced Filtering to restrict the data to only display full-time employees with at least one dependent. Place the results in cell A37. Use the criteria in the range H24:M25 to complete the function. Ensure that the Facilities worksheet is active. Use Goal Seek to reduce the monthly payment in cell B6 to the optimal value of $6000 . Complete this task by changing the Loan amount in cell E6. Create the following three scenarios using Scenario Manager. The scenarios should change the cells B7, B8, and E6. Good B7 = .0325 B8 = 5 E6 = 275000 Most Likely B7 = .057 B8 = 5 E6 = 312227.32 Bad B7 = .0700 B8 = 3 E6 = 350000 Create a Scenario Summary Report based on the value in cell B6. Format the new report appropriately. Ensure that the Facilities worksheet is active. Enter a reference to the beginning loan balance in cell B12 and enter a reference to the payment amount in cell C12. Enter a function in cell D12, based on the payment and loan details, that calculates the amount of interest paid on the first payment. Be sure to use the appropriate absolute, relative, or mixed cell references. Enter a function in cell E12, based on the payment and loan details, that calculates the amount of principal paid on the first payment. Be sure to use the appropriate absolute, relative, or mixed cell references. Enter a formula in cell F12 to calculate the remaining balance after the current payment. The remaining balance is calculated by subtracting the principal payment from the balance in column B. Enter a function in cell G12, based on the payment and loan details, that calculates the amount of cumulative interest paid on the first payment. Be sure to use the appropriate absolute, relative, or mixed cell references. Enter a function in cell H12, based on the payment and loan details, that calculates the amount of cumulative principal paid on the first payment. Be sure to use the appropriate absolute, relative, or mixed cell references. Enter a reference to the remaining balance of payment 1 in cell B13. Use the fill handle to copy the functions created in the prior steps down to complete the amortization table. Ensure the Sales worksheet is active. Enter a function in cell B8 to create a custom transaction number. The transaction number should be comprised of the item number listed in cell C8 combined with the quantity in cell D8 and the first initial of the payment type in cell E8. Use Auto Fill to copy the function down, completing the data in column B. Enter a nested function in cell G8 that displays the word Flag if the Payment Type is Credit and the Amount is greater than or equal to $4000 . Otherwise, the function will display a blank cell. Use Auto Fill to copy the function down, completing the data in column G. Create a data validation list in cell D5 that displays Quantity, Payment Type, and Amount (in that order). Type the Trans# 30038C in cell B5, and select Quantity from the validation list in cell D5. Enter a nested lookup function in cell F5 that evaluates the Trans# in cell B5 as well as the Category in cell D5, and returns the results based on the data in the range A8:F32. Create a PivotTable based on the range A7:G32. Place the PivotTable in cell I17 on the current worksheet. Place Payment Type in the Rows box and Amount in the Values box. Format the Amount with Accounting Number Format. Insert a PivotChart using the Pie chart type based on the data. Place the upper-left corner of the chart inside cell I22. Format the Legend of the chart to appear at the bottom of the chart area. Format the Data Labels to appear on the Outside end of the chart. Insert a Slicer based on Date. Place the upper-left corner of the Slicer inside cell L8. Use PowerQuery to connect to the Access database Exp19_Excel_AppCapstone_Comprehensive_Inventory.accdb. Load the Inventory table into a new worksheet named Inventory. Note, Mac users, download and import the delimited Inventory.txt file into a new worksheet named Inventory starting in cell A1. Create a footer with your name on the left, the sheet code in the center, and the file name on the right for each worksheet. Save the file Exp19_Excel_AppCapstone_ComprehensiveAssessment- Manufacturing.xlsx. Exit Excel. Submit the file as directed.

Paper For Above instruction

In the dynamic landscape of manufacturing enterprises, comprehensive data management is essential for informed decision-making and operational efficiency. As the newly appointed CFO of Beta Manufacturing, a small-cap producer of automotive parts, I undertook a meticulous analysis of various business components, including employee tax withholding, facility management, sales data, and inventory. This report encapsulates the methodologies employed and insights derived from diverse Excel functionalities and data analysis techniques, illustrating how integrated data processing drives strategic planning.

Employee Data Management and Analysis

One of the foundational steps involved consolidating employee information across multiple worksheets. By grouping all worksheets and applying a fill command across the range A1:F1 in the Insurance worksheet, I established a uniform header structure, facilitating seamless data referencing. Subsequently, I employed database functions such as COUNT and AVERAGE to gauge the number of full-time employees and compute average salaries, respectively. Cell I5 was designated to determine the total full-time employee count, while I6 calculated the mean salary of full-time staff with at least one dependent, ensuring precise filtering through criteria applied within the functions.

Considering employee tax deductions, I utilized VLOOKUP within cell E5 to retrieve deduction amounts based on dependents listed in cell C5. The lookup table spanned range H13:I17, with caps in place to prevent exceeding the maximum deduction threshold of $500. AutoFill extended the deduction calculations down column E, applying consistent cell referencing to ensure accuracy. Formatting these values in the Accounting Number Format improved readability, aligning with financial reporting standards.

FICA withholding calculations were implemented through logical IF functions in cell F5, integrating conditions based on employment status and dependents. This allowed differential tax application—7% for full-time employees with dependents, and 5% for others—mirroring real-world payroll deduction practices. Copying this formula demarcated precise payroll deductions across the dataset, which was then formatted in Accounting Number Format for consistency.

Conditional formatting in column C spotlighted employees with more than three dependents, using a Light Red Fill and Dark Red Text to flag potential tax or policy considerations. The application of AVERAGEIFS in cell H10 further refined salary analysis by isolating full-time employees with dependents, serving as a valuable metric for assessing employee benefit burdens.

An advanced filtering process isolated these specific employee subsets—full-time employees with at least one dependent—displayed in cell A37. Criteria from ranges H24:M25 were used as filters, ensuring analytical precision. These practices collectively enabled a granular view of employee demographics and compensation, supporting payroll and HR decision-making.

Facility Management and Financial Strategy

Shifting focus to the facilities domain, I utilized the Scenario Manager within Excel to simulate different financial conditions affecting loan repayment strategies. Three scenarios—'Good,' 'Most Likely,' and 'Bad'—altered variables such as interest rate, payment period, and loan amount. The 'Goal Seek' function optimized the loan payment to a target of $6,000 by adjusting the original loan balance. This iterative process facilitated financial planning aligned with the company's cash flow objectives.

A comprehensive amortization table was developed employing financial functions such as PMT, IPMT, PPMT, CUMIPMT, and CUMPRINC. These calculations detailed each payment's breakdown into interest and principal components, track residual balances, and cumulative interest and principal paid over the loan tenure. Referencing cells with proper absolute or relative references ensured dynamic accuracy, allowing the scenario adjustments to automatically reflect in amortization schedules.

Sales Data Handling and Transaction Analysis

On the sales front, I designed a transaction dataset that combined item numbers, quantities, and payment types into a unique identifier, generating transaction numbers through nested formulas. These strings facilitated tracking and analysis of sales activities. Logical nested IF functions flagged large credit transactions exceeding $4,000, enabling rapid identification of significant sales for risk assessment.

Data validation lists provided options for selecting transaction criteria such as Quantity, Payment Type, and Amount, enhancing data integrity. Furthermore, a nested lookup function evaluated specific transaction IDs—like '30038C'—against categories, assisting in targeted sales analysis.

Data Visualization through PivotTables and Charts

To visualize sales performance, I constructed a PivotTable summarizing Payment Types and total amounts, formatted in standard accounting notation. This summarized data was transformed into a PivotChart—specifically, a Pie chart—positioned strategically within the worksheet. Data labels were configured to display outside the chart segments for clarity, and the legend was positioned at the bottom to enhance readability.

Slicers enabled dynamic filtering of sales data based on dates, providing interactive analysis capabilities. These visual tools aid in quickly discerning sales trends and customer preferences, guiding marketing and sales strategies.

Data Integration and Database Connectivity

Recognizing the importance of comprehensive inventory management, I utilized PowerQuery to connect to the Access database 'Exp19_Excel_AppCapstone_Comprehensive_Inventory.accdb.' This connection enabled importing the Inventory table directly into Excel, creating an up-to-date inventory overview. For Mac users unable to connect directly to Access, importing a delimited Inventory.txt file into a sheet named 'Inventory' ensured cross-platform compatibility.

Reporting and Finalization

To conclude, I ensured consistent documentation by adding custom footers across all worksheets, incorporating the preparer's name, sheet code, and filename. The final step involved saving the meticulously compiled workbook under the specified filename, ready for submission.

In summary, leveraging advanced Excel functionalities—such as database functions, logical formulas, scenario management, financial calculations, PivotTables, and external data connections—enabled a detailed and dynamic analysis of Beta Manufacturing’s multifaceted operations. These insights support strategic decisions related to employee management, financial planning, sales optimization, and inventory control, ultimately enhancing the firm’s operational robustness and market competitiveness.

References

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