Assignment 0

Try out the following problems on your own. No submission to the instructor is required for assignment 0. Compare your solutions against the model solution posted. Use the model solution as a benchmark for the other graded course assignments. A good rule of thumb would be to attempt the questions not just to provide the numerical answers like any typical homework. Instead go the extra mile to make truly professional decision-support tools that can be used again and again by others. Make each of your solution like a response to a real client, who is a very senior manager in an established firm.

Question 1 The Widget Division factory purchases 25,000 couplers per year for use in its widget manufacturing process. The Director of Purchasing has determined that it costs $20.00 (in personnel and computer time) for the company to process an order to purchase couplers. It costs the company $4.00 per year to carry a coupler in inventory (including space allocation, breakage, theft, insurance). As the new Assistant to the Director of Purchasing, your job is to calculate how many couplers should be ordered each time. If you order 100 couplers at a time, orders will be arriving almost daily so you will have low carrying costs but you will have to pay for processing the 250 purchases in the year. If you order 100,000 couplers at a time, you will have low purchase costs but very high inventory carrying costs. The Economic Order Quantity (EOQ) is the amount that should be ordered each time to minimize the total (order plus carry) cost. The EOQ is calculated by (2DO/C) where D is the annual demand, O is the cost to process an order, and C is the annual carrying cost for a unit in inventory. (a) Create a worksheet for determining the Economic Order Quantity. Your worksheet should work for any quantities entered. (Note that the square root of a quantity can be calculated by raising the quantity to the 0.5 power.) How many couplers should be purchased at a time? (b) Suppose demand for widgets increases dramatically and now we need to purchase 100,000 couplers per year. How many should be purchased at a time?

Question 2 Create a worksheet to calculate the Break-Even Point for a product. Allow the user to enter three values: a unit Selling Price, the percentage of the selling price required for the Variable Cost of each unit, and the total Fixed Cost. The worksheet should be well-labeled and should contain formulas to calculate automatically two values: the Break-Even Point in units sold and the Break-Even Point in dollar volume sold. The worksheet also may calculate some intermediate values, if you wish. Test your model with at least the following sets of input values: (a) Selling Price 200, Variable Cost Percent 60, Fixed Cost 40000 (b) Selling Price 250, Variable Cost Percent 50, Fixed Cost 50000 1

Question 3 Create a worksheet to calculate the wages for hourly employees. Payroll Week of Name Abel, Ann Jones, John Smith, Sam Wall, Joan Mon Tue Wed Thu Fri Sat Sun

(a) Start off with a heading, the name of the employees, and the hours worked each day. Try using Auto Fill for the days of the weeks. Type in the numbers of hours worked each day. Use a variety of numbers. (b) Add a column at the end to calculate total hours worked for each employee. Use the SUM function. (c) Add a column with the hourly wage of each employee. Use a different wage for each employee. Be generous. (d) Add a column to automatically calculate the gross wages earned for the week. (e) Add a column for federal tax withholdings of 20%. (f) Add a column for state tax withholdings of 5%. (g) Add a column for medical deductions of $12 per week. (h) Add a column for take-home pay (gross wages minus withholding and deductions). (i) Add rows at the bottom for the total and the average of each of the columns. Use the SUM and AVERAGE functions and Fill. (j) Format appropriate cells with $ signs and to two decimal places to the right of the decimal point. (k) Format the worksheet so it is as attractive and readable as possible.

Question 4 Design and implement a worksheet to keep track of how much time you spend in each of your courses and favorite activities each day during a given week. You should have one row for each of your courses. You should have one column for each of the days of the week (Sun, Mon, Tue, ...). Add rows for sleeping and eating. Add rows for two other activities that you enjoy and participate in regularly. At the top of the worksheet should be your name and the dates of the week for the numbers in the worksheet. Enter numbers into your worksheet (you can make them up). Include the time you spend in class for the hours for your courses. Add a row at the bottom of your worksheet for Total. Use the SUM function and the Fill operation. Add three columns on the right of your worksheet for Total, Average, and Maximum. Use the built-in functions and the Fill operations.

There are 168 hours in the week. Add a column that gives the percent of the week spent on each course or activity. Now change some of the numbers in the worksheet. automatically be recalculated. All the formulas should

Question 5 The major regions of the earth and their areas in millions of square miles are shown below. Pacific Ocean Atlantic Ocean Indian Ocean Arctic Ocean other oceans 64 33 28 5 9 Asia Africa North America South America Antarctica Europe Australia Other land 17 12 9 7 5 4 3 1

(a) Enter this data into a worksheet. Add well-labeled cells for the total area covered by the oceans, the total area covered by land, and the total area of the earth. Name these cells. (b) Add a column that shows the percentage of the earth covered by each of the 13 regions listed. Use the Fill operation. (c) Add a column that shows the percentage of the total area covered by ocean that each of the ocean regions occupies. Use the Fill operation. (d) Add a column that shows the percentage of the total area covered by land that each of the continents occupies. Use the Fill operations.