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Exp19_Excel_Ch07_HOEAssessment_Employees

Project Description:

You work for a clothing distributor that has locations in Iowa, Minnesota, and Wisconsin. You will use date and logical functions to complete the main employee data set, use database functions to calculate key summary statistics and create a map, and use financial functions to complete a loan amortization table.

     

Start   Excel. Download and open the file named Exp19_Excel_Ch07_HOEAssessment_Employees.xlsx. Grader has automatically added   your last name to the beginning of the filename.

 

The 1-Data worksheet contains   employee data. You will insert several functions to complete this worksheet.   Column C contains the actual hire dates for the employees. You want to   extract only the year in column G.
 

  In cell G9, insert the appropriate date function to extract the year from the   date in cell C9. Copy the function from cell G9 to the range G10:G33.

 

Next, you want to determine how   many years each employee has worked for the company.
 

  In cell H9, insert the YEARFRAC function to calculate the years between the   hire date and the last day of the year contained in cell G2. Use a mixed   reference to cell G2. Copy the function from cell H9 to the range H10:H33.

 

You want to determine what day   of the week each employee was hired.
 

  In cell I9, insert the WEEKDAY function to display the day of the week the   first employee was hired. Use 2 as the return_type. Copy the function from   cell I9 to the range I10:I33.

 

The value returned in cell I9 is   a whole number. You want to display the weekday equivalent.
 

  In cell J9, insert a VLOOKUP function to look up the value stored in cell I9,   compare it to the array in the range H2:I6, and return the day of the week.   Use mixed references to the table array. Copy the function from cell J9 to   the range J10:J33.

 

Column D contains the city each   employee works in. You want to display the state.
 

  In cell F9, insert the SWITCH function to switch the city stored in cell D9   with the respective state contained in the range C2:C4. Switch Des Moines for Iowa, St. Paul for Minnesota, and Milwaukee for Wisconsin. Use mixed   references to cells C2, C3, and C4. Copy the function from cell F9 to the   range F10:F33.

 

Your next task is to calculate   the bonus for the first employee. If the employee was hired before 1/1/2010,   the employee’s salary is multiplied by 3%. If the employee was hired before   1/1/2015, the employee’s salary is multiplied by 2%. If the employee was   hired before 1/1/2020, the employee’s salary is multiplied by 1%.
 

  In cell K9, insert the IFS function to create the three logical tests to   calculate the appropriate bonus. Use mixed references to cells within the   range K2:L4. Copy the function from cell K9 to the range K10:K33.

 

Top management decided to ensure   all representatives’ salaries are at least $62,000 (cell G2).
 

  In cell L9, nest an AND function within an IF function. If the job title is Representative   and the salary   is less than the minimum representative salary, calculate the difference   between the minimum representative salary and the actual salary. If not,   return zero. Use a mixed reference to cell G3. Copy the function from cell L9   to the range L10:L33.

 

The 2-Summary worksheet contains   data to insert conditional math and statistical functions to provide summary   data. First, you want to count the number of employees in each state.
 

  Click the 2-Summary worksheet. In cell J3, insert the COUNTIF function to   count the number of employees in Iowa, using the state abbreviation column   and the state abbreviation in cell I3. Use mixed references for the range and   cell to keep the row numbers the same. Copy the function from cell J3 to the   range J4:J5.

 

Next, you want to calculate the   total payroll for each state.
 

  In cell K3, insert the SUMIF function to total the salaries for employees who   work in Iowa, using the state abbreviation column and the state abbreviation   in cell I3. Use mixed references for the ranges and cell to keep the row   numbers the same. Copy the function from cell K3 to the range K4:K5.

 

Next, you want to calculate the   average salary for executives and the average salary for representatives.
 

  In cell J8, insert the AVERAGEIF function to calculate the average salary for   executives. Use mixed references to the range and for the cell containing   Executives. Copy the function to cell J9.

 

You want to identify the number   of representatives hired before 1/1/2015.
 

  In cell J12, insert the COUNTIFS function to count the number of   representatives who were hired before 1/1/2015. Use ranges for the criteria   ranges and the reference to cell H9 that contains Representatives. Enter the   date condition directly in the criteria box.

 

In cell J13, insert the SUMIFS   function to calculate the total salaries for representatives hired before   1/1/2015. Use ranges for the criteria ranges and the reference to cell H9   that contains Representatives. Enter the date condition directly in the   criteria box. Use mixed references to the ranges and cell reference so that   you can copy the function in the next step.

 

Copy the function from cell J13   to the range J14:J16. Edit the function in cell J14 to calculate averages.

 

Edit the function in cell J15 to   calculate the lowest salary.

 

Edit the function in cell J16 to   calculate the highest salary.

 

Insert a map to display total   salaries by states.
 

  Select the ranges I2:I5 and K2:K5 and insert a filled map. Change the chart   title to Payroll by State. Cut the chart and paste it in cell M1.

 

The 3-Finance worksheet contains   inputs for a loan.
 

  In cell F2, insert the PV function to calculate the loan. Use cell references   in the Input Area and Basic Output Area.

 

You are ready to insert formulas   and functions in the loan amortization table.
 

  In cell C7, enter a reference to the Payment that is stored in cell D2. Use   mixed reference so that the row number does not change. Copy the formula from   cell C7 to the range C8:C42.

 

The next column is designed to   display the interest portion of each payment.
 

  In cell D7, insert the IPMT function to calculate the interest for the first   payment. Use mixed references for cells in the Basic Output Area and make   sure the result is a positive value. Copy the function from cell D7 to the   range D8:D42.

 

Next, you are ready to calculate   the portion of the monthly payment that goes toward the principal.
 

  In cell E7, insert the PPMT function to calculate the principal portion of   the first payment. Use mixed references for cells in the Basic Output Area   and make sure the result is a positive value. Copy the function from cell E7   to the range E8:E42. 

 

Now you are ready to calculate   the balance of the loan after each payment.
 

  In cell F7, enter a formula to calculate the ending balance after subtracting   the Principal Repayment from the Beginning Balance. Copy the formula from   cell F7 to the range F8:F42.
 

  In cell B8, enter a formula that refers to the ending balance for the   previous month in cell F7. Copy the relative formula to the range B9:B42.

 

Now you want to calculate the   cumulative interest after each payment.
 

  In cell H7, insert the CUMIPMT function. Use mixed references for cells in   the Basic Output Area and the Start_period argument. Make sure the result is   a positive value. Copy the function from cell H7 to the range H8:H42. 

 

Finally, you want to calculate   the cumulative principal after each payment.
 

  In cell I7, insert the CUMPRINC function. Use mixed references for cells in   the Basic Output Area and the Start_period argument. Make sure the result is   a positive value. Copy the function from cell I7 to the range I8:I42.

 

Insert a footer on all three   sheets with your name on the left side, the sheet name code in the middle,   and the file name code on the right side.

 

Save and close Exp19_Excel_Ch07_HOEAssessment_Employoees.xlsx.   Exit Excel. Submit the file as directed.

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