1. Create a new Excel document and name it budget.xlsx. 2. Add the following data and details into your spreadsheet. This is the sales data for the first quarter of the year for each store. Rename the sheet tab to a meaningful name. 3. Use formulas and functions to calculate the totals, average, minimum and maximum sales amounts for this quarter. 4. On a new sheet, recreate this outline replacing the months with Apr, May, Jun, for the second quarter sales estimates. Edit the title and the sheet name. 5. Calculate the sales estimates for April, May and June using the following information: • It is predicted that April will be a busy month. Sales for each store are expected to be 12% more than March sales. • May will be a quieter month. Sales are expected to be 7% lower than April sales. • In June, sales for each store are expected to be 15% higher than February sales, however Paris is only expected to be 10% higher. 6. Complete the totals, average, minimum and maximum amounts for the second quarter. 7. Create a chart for the second quarter sales. This can be on the same sheet or a new sheet. Make sure your chart shows meaningful information and is correctly labelled and titled.
1. Create a new Excel document and name it budget.xlsx. 2. Add the following data and details into your spreadsheet. This is the sales data for the first quarter of the year for each store. Rename the sheet tab to a meaningful name. 3. Use formulas and functions to calculate the totals, average, minimum and maximum sales amounts for this quarter. 4. On a new sheet, recreate this outline replacing the months with Apr, May, Jun, for the second quarter sales estimates. Edit the title and the sheet name. 5. Calculate the sales estimates for April, May and June using the following information: • It is predicted that April will be a busy month. Sales for each store are expected to be 12% more than March sales. • May will be a quieter month. Sales are expected to be 7% lower than April sales. • In June, sales for each store are expected to be 15% higher than February sales, however Paris is only expected to be 10% higher. 6. Complete the totals, average, minimum and maximum amounts for the second quarter. 7. Create a chart for the second quarter sales. This can be on the same sheet or a new sheet. Make sure your chart shows meaningful information and is correctly labelled and titled.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.9E: Working Backward: Gross Profit Ratio Acmes gross profit ratio increased by 20% over the prior year....
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Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
1. Create a new Excel document and name it budget.xlsx.
2. Add the following data and details into your spreadsheet. This is the sales data for the first quarter of the year for each store. Rename the sheet tab to a meaningful name.
3. Use formulas and functions to calculate the totals, average, minimum and maximum sales amounts for this quarter.
4. On a new sheet, recreate this outline replacing the months with Apr, May, Jun, for the second quarter sales estimates. Edit the title and the sheet name.
5. Calculate the sales estimates for April, May and June using the following information:
• It is predicted that April will be a busy month. Sales for each store are expected to be 12% more than March sales.
• May will be a quieter month. Sales are expected to be 7% lower than April sales.
• In June, sales for each store are expected to be 15% higher than February sales, however Paris is only expected to be 10% higher.
6. Complete the totals, average, minimum and maximum amounts for the second quarter.
7. Create a chart for the second quarter sales. This can be on the same sheet or a new sheet. Make sure your chart shows meaningful information and is correctly labelled and titled.
Transcribed Image Text:First Quarter Sales
Location
Jan
Feb
Mar
Total Average Min
Max
Melbourne
$
5,792 $
4,819 $ 3,527
Sydney
$
3,365 $
2,968 $
3,502
Perth
$
4,669 $
982 $
2,098
Hobart
$
1,867 $
2,376 $
894
Paris
$
1,160 $
11,879 $
5,011
Auckland
$
4,561 $
5,793 $
1,357
Total
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