Excel Chapter 1 Mid-Level 1 – Guest House Rental Rates
Exp22 Excel Ch01 ML1 Rentals
Exp22 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 Exp22_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.
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.
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.
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.
The headings in D5 and F5 wrap within words because the columns are too narrow. You will widen those columns and center the number of units below its column heading.
Set the width of columns D and F to 10.0. Select the range B6:B8 and horizontally center the data.
One of the rental types is missing from the list. You want to insert a row after the Studio Apartment row and enter the missing rental type.
Insert a row above the 1 Bedroom Suite. In cell A7, type Ocean View Studio. In cell B7, type 4. In cell C7, type 275. In cell E7, type 200.
You want to change Suite to Apartment in the list.
Find occurrences of Suite and replace them with occurrences of Apartment.
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.
You are ready to calculate the Off-Peak Rentals Maximum Revenue that can be earned. The maximum revenue is the total revenue if all rental units are rented.
In cell F6, enter a formula that calculates the Off-Peak Rentals Maximum Revenue.
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 $116.05 Off-Peak, which is 77.4% of the $149.95 Peak rate. Therefore, the Discount Rate for the Off-Peak Per Day rate is 22.6%.
In cell G6, enter a formula that calculates the Discount Rate for the Off-Peak rental price per day.
You created formulas for the Peak Rentals Maximum Revenue, Off-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:D9. Copy the formula in cell F6 to the range F7:F9. Copy the formula in cell G6 to cells G7:G9.
The values in the columns are hard to read with varying numbers 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:F9 with Accounting Number Format.
The Discount Rate formula results are displayed as decimal values. However, formatting the values as percentages will align decimal points and clearly indicate the percentages.
Format the range G6:G9 in Percent Style with one decimal place.
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 5, Lighter 80% fill color to the range E5:G9.
You want to apply a complementary fill color to the data below the Peak Rentals heading.
Select the range C5:D9 and apply Gold, Accent 4, Lighter 80% fill color.
To help offset the headings from the rental data, you will apply a border.
Apply the Bottom Border style to the range A5:G5.
Before finalizing the worksheet, you should check the spelling.
Use Excel to check the spelling and correct errors. Excel should find two errors. (Mac users, if only one error is found, manually check and correct spelling errors.)
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 Rates worksheet, place the new sheet to the right side of the original worksheet, and rename the new sheet as Formulas.
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 both worksheets. Select Landscape orientation. Set 1-inch top, bottom, left, and right margins. Center the data horizontally on the page, and apply the setting to fit to one page.
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.
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. Set a width of 13 for column A and 7 for column B.
Save and close Exp22_Excel_Ch01_ML1_Rentals.xlsx. Exit Excel. Submit the file as directed.