Accounting / Business Excel Problem and Solutions

6 ? Test Item File Chapter One ? 7 Excel Problems 1. Set up the following cell entries in Excel: Variable cost/unit $1.5 Fixed cost $90 Selling price/unit $3 Breakeven (units) 60 Breakeven in dollars ($) $180 Using Goal Seek, what should the selling price per unit be in order to realize a breakeven amount of $200? 2. A hotel typically incurs a cost of $45 to clean each room before guest arrival. Each room generates revenue of $155.00 per night. Using Goal Seek, how many rooms must be occupied nightly in order to realize a daily profit of $20,000? A professor that teaches Management Science assigns the final grade based on three examinations. To earn an A, the overall average on the three exams must be at least 89%. Suppose that you score 80% and 79% on exams 1 and 2, respectively. Using Goal Seek, what is the minimum score that you need to earn on exam 3 to get an A. 4. A bakery sells its pies for $6.00 each. The bakery incurs a daily fixed cost of $500 which includes salaries and rental. The variable cost per pie is $2.50. Set up this problem in Excel as shown below to compute the number of pies (X) that must be baked daily in order to breakeven. Model the problem mathematically without using Goal Seek. 5. Refer to the data provided in problem 4. Use Goal Seek to compute the number of pies (X) that must be baked daily in order to breakeven if the variable cost per pie increases to $3.00.