Project Description:

You are the production manager for Delta Paint, a regional manufacturing company that specializes in customized paints. Your company sells paint by the gallon, and you have the task of forecasting the best production blends to maximize profit and most effectively utilize resources.

Instructions:

For the purpose of grading the project you are required to perform the following tasks:

 Step Instructions Points Possible 1 Open the download file exploring_e06_grader_Capstone.xlsx. 0.000 2 Create appropriate range names for Total Production Cost (cell B18) and Gross Profit (cell B21) by selection, using the values in the left column. 3.000 3 Edit the existing name range Employee_Hourly_Wage toHourly_Wages2018. 3.000 4 Use the newly created range names to create a formula to calculate Net Profit (in cell B22). 4.000 5 Create a new worksheet labeled Range Names, paste the newly created range name information in cell A1, and resize the columns as needed for proper display. 5.000 6 On the Forecast sheet, start in cell E3. Complete the series of substitution values ranging from 10 to 200 at increments of 10 gallons vertically down column E. 2.000 7 Enter references to the Total_Production_Cost, Gross_Profit, and Net Profit cells in the correct locations (F2, G2, and H2 respectively) for a one-variable data table. Use range names where indicated. 3.000 8 Complete the one-variable data table in the range F3:H22 using cell B4 as the column input cell, and then format the results with Accounting Number Format with two decimal places. 5.000 9 Apply custom number formats to make the formula references appear as descriptive column headings. In F2, Total Costs; in G2, Gross Profit, in H2, Net Profit. Bold and center the headings and substitution values. 3.000 10 Copy the number of gallons produced substitution values from the one-variable data table, and then paste the values starting in cell E26. 4.000 11 Type \$15 in cell F25. Complete the series of substitution values from \$15 to \$40 at \$5 increments. 4.000 12 Enter the reference to the net profit formula in the correct location for a two-variable data table. 4.000 13 Complete the two-variable data table in the range F26:K45. Use cell B6 as the Row input cell andB4 as the Column input cell. Format the results with Accounting Number Format with two decimal places. 10.000 14 Apply a custom number format to make the formula reference appear as a descriptive column heading Wages. Bold and center the headings and substitution values where necessary. 3.000 15 Create a scenario named Best Case, using Units Sold, Unit Selling Price, and Employee Hourly Wage (use cell references). Enter these values for the scenario: 200, 30, and 15. 4.000 16 Create a second scenario named Worst Case, using the same changing cells. Enter these values for the scenario: 100, 25, and 20. 4.000 17 Create a third scenario named Most Likely, using the same changing cells. Enter these values for the scenario: 150, 25, and 15. 4.000 18 Generate a scenario summary report using the cell references for Total Production Cost and Net Profit. 5.000 19 Load the Solver add-in if it is not already loaded. Set the objective to calculate the highest Net Profit possible. 5.000 20 Use the units sold as changing variable cells. 4.000 21 Use the Limitations section of the spreadsheet model to set a constraint for raw materials. 4.000 22 Set a constraint for labor hours. 4.000 23 Set a constraint for maximum production capability. 4.000 24 Solve the problem. Generate the Answer Report and Keep Solver Solution. 5.000 25 Create a footer on all four worksheets with your name on the left side, the sheet name code in the center, and the file name code on the right side. 4.000 26 Save and close the file. Based on your instructor’s directions, submit exploring_e06_grader_Capstone.xlsx. 0.000 Total Points 100.000

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