Exp19 Excel Ch01 ML1 Rentals
You manage a beach guest house in Ft. Lauderdale containing three types of rental units. Prices are based on peak and off-peak times of the year. You need to calculate the maximum daily revenue for each rental type, assuming all units are rented. In addition, you need to calculate the discount rate for off-peak rental times. Finally, you will improve the appearance of the worksheet by applying font, alignment, and number formats.
Start Excel. Download and open the file named Exp19_Excel_Ch01_ML1_Rentals.xlsx. Grader has automatically added your last name to the beginning of the filename.
You want to format the main title to have a consistent appearance to other documents and spreadsheets.
Apply the Heading 1 cell style to the range A1:G1.
Hint: Cell Styles is on the Home tab.
You want to apply a similar, complementary style to the date, which is below the main title.
Apply the 20% – Accent1 cell style to the range A2:G2.
The Peak Rentals heading is centered over the related data in columns C and D. You want the Off-Peak Rentals heading to be centered over its related data.
Merge and center Off-Peak Rentals in the range E4:G4.
Hint: Merge and Center is on the Home tab.
To help other people know that the Off-Peak Rentals heading is related to three columns of data, you want to apply a fill color to that heading. You will choose a different color to distinguish these data columns from the fill color used for the Peak Rentals heading.
Apply Blue fill color (the eighth color below Standard Colors) and White, Background 1 font color to cell E4.
Hint: Fill Color and Font Color are on the Home tab.
Three headings (Maximum Revenue, Maximum Revenue, and Discount Rate) do not fully display on the fifth row. Instead of widening the columns, you want to wrap the headings within their respective cells. This will enable you to maintain the column width appropriate for the data below the headings.
Center and wrap the headings on row 5.
Hint: Use the Home tab.
You are ready to calculate the Peak Rentals Maximum Revenue that can be earned. The maximum revenue is the total revenue if all rental units are rented.
In cell D6, enter a formula that calculates the Peak Rentals Maximum Revenue.
Hint: Formula is: No. of Units*Daily Rate
The Discount Rate is the percentage off of the Peak Rentals Per Day Rate used to calculate the Off-Peak Rentals Per Day rate. The Studio Apartment rents for $120 Off-Peak, which is 80% of the $149.95 Peak rate. Therefore, the Discount Rate for the Off-Peak Per Day rate is 20%.
In cell G6, enter a formula that calculates the Discount Rate for the Off-Peak rental price per day.
Hint: Formula is: 1-(Off-Peak Rentals Daily Rate/Peak Rentals Daily Rate)
You created formulas for the Peak Rentals Maximum Revenue and the Discount Rate for the Off-Peak Rentals for the Studio Apartment rental type. Now you want to copy the formulas to the remaining rental types so that you don’t have to create formulas again.
Copy the formula in cell D6 to cells D7:D8. Copy the formula in cell G6 to cells G7:G8.
Hint: Use the fill handle.
The values in the columns are hard to read with varying number of decimal points. The Accounting Number Format will align the decimal points and display dollar signs to improve the appearance of the monetary values.
Format the range C6:F8 with Accounting Number Format.
Hint: Accounting Number Format is on the Home tab.
The Discount Rate formula results are displayed as decimal points. However, formatting the values as percentages will align decimal points and clearly indicate the percentages.
Format the range G6:G8 in Percent Style with one decimal place.
Hint: Look in the Number group on the Home tab.
You applied a solid blue to the Off-Peak Rentals heading, so you will apply a complementary lighter blue fill color to the data below that heading.
Apply Blue, Accent 1, Lighter 80% fill color to the range E5:G8.
Hint: The Fill Color palette contains an option for selecting more colors to customize.
A solid red fill is applied to the Peak Rentals heading. You will select a complementary custom fill color for the data below that heading.
Select the range C5:D8 and apply a custom fill color with Red 242, Green 220, and Blue 219.
Note, Mac users, in the Colors dialog box, click the Color Sliders tab and then select the RGB Sliders.
Hint: On the Home tab, in the Font group, click Fill Color, and then click More Colors.
Answer the first question below the worksheet data. Apply Yellow highlight color to the correct answer in either cell A16, A17, or A18.
Answer the second question below the worksheet data. Apply Yellow highlight color to the correct answer in either cell A22, A23, or A24.
Answer the third question below the worksheet data. Change XX.X% to the correct percentage in cell A28.
Now that the worksheet contains formulas and is formatted, you are ready to apply Page Setup options to prepare the worksheet to be printed, if needed.
Select Landscape orientation, center the data horizontally on the page, and apply the setting to fit to one page.
Hint: The Page Layout tab contains options needed.
It is important to provide identification information in a footer of the worksheets. In particular, the textbook series name, the worksheet name, and the file name help identify the worksheet.
Insert a footer with the text Exploring Series on the left side, the sheet name code in the center, and the file name code on the right side.
Hint: Use the Insert tab or the Page Layout tab to insert a footer.
To preserve the original data, you make a copy a worksheet so that you can manipulate the data or if you want to review the formulas.
Create a copy of the Rental Rates worksheet, place the new sheet to the right side of the original worksheet, and rename the new sheet as Formulas.
Hint: Display a shortcut menu from the sheet tab.
You want to display the formulas and set print options so that it will be easier to read and interpret the rental formulas on a printout, if needed.
On the Formulas worksheet, display cell formulas, and set options to print gridlines and headings.
Hint: Use the Formulas tab on the ribbon.
Save and close Exp19_Excel_Ch01_ML1_Rentals.xlsx. Exit Excel. Submit the file as directed.