Excel Review-Playground Problem Your esteemed fraternity “Lamda, Lamda, Lambchops” has raised $30,000 in funds toward a community service project to build a park at the local Children’s Hospital. Your fraternity will use this money to buy the building materials and contract labor necessary for this project. The labor to install the grass sod and sand is free since your fraternity and a local sorority “Alpha Alpha Alphabet” will do the work. A diagram of the proposed playground shows a ball field and playground area surrounded by a grassy picnic area. You have compiled a list of prices and input them into an Excel worksheet named Prices. In the same workbook you have compiled a list of playground dimensions and conversion factors - this worksheet is named Dim. Now you are ready to fill in the final information to obtain the total project costs. You created a third worksheet named Costs. Lamda Lamda Lambchops - Playground Project 200 ft Picnic areas 100 ft Ball fields Playground 20 ft 100 ft 50 ft 30 ft Additional information: All areas except the playground will be covered with grass sod which is purchased by the square yard (SY) The playground area will be covered with sand that is purchased in 50lb. Bags. The sand will be piled 2 feet deep. The entire outside perimeter of the park will be fenced with wood fencing. The playground area will be fenced on all four sides with the same wood fencing (don’t want those toddlers to escape!!). There are a total of 5 gates - one on each side of the outside perimeter, and one into the playground area The range prices!A2:E6 has been named data. Column E on the prices! Table shows a True value if a contractor is being used for installation of that item. The contractor's labor rate is displayed in cell prices!C8 and has been named labor Conversion Factors found on “dim” worksheet: There are 9 square feet (SF) per square yard (SY) Each 50lb bag covers 1.5 cubic feet (CF – length x width x depth). Page 64 A B Costs 1 2 3 4 5 6 7 C D total material unit quantity cost sy 2156 2694 50lb bag 800 4000 item Grass Sod Sand Playground Equipment Fencing Gates Total Cost each ft each 1 700 5 10000 7000 3000 26694 E F total labor Total cost Cost 0 2694 0 4000 563 1575 563 2700 10563 8575 3563 29394 G H I % material 10% 15% % of total labor 0% 0% % of total 9% 14% 37% 26% 11% 100% 21% 58% 21% 100% 36% 29% 12% 100% 8 TRUE FALSE 9 Collect Enough $ 10 any over 50% Material costs for items installed by 11 fraternity 6694 Prices A 1 2 3 4 5 6 item Gates Grass Sod Fencing Playground Equipment Sand B C D unit each SY Ft each 50lb. Bag $ 10,000.00 $ 5.00 25.00 0.10 7 Labor hour 9 all installed by contractor 10 only sod installed by contractor 8 $22.50 FALSE FALSE Dim E material labor by $/unit hrs/unit contractor $ 600.00 5.00 TRUE $ 1.25 0.30 FALSE $ 10.00 0.10 TRUE TRUE FALSE A 1 2 3 4 5 B C Dimensions and Unit Conversions area length (ft) width (ft) entire lot 200 100 ball field 100 50 playground 30 20 6 square feet per square 7 yard (SF/SY) 8 sand depth in feet cubic feet (CF) per 50lb. 9 Sandbag Amount of money 10 raised 9 2 1.5 $ 30,000 Page 65 1. Write an Excel formula for cell costs!C2 to calculate the quantity of grass sod in square yards to be purchased. All areas except the playground will have grass sod. 2. Write an Excel formula for cell costs!C3 to calculate the number of sand bags to be purchased. Only the playground area will be covered with sand to a 2 foot depth. Each 50 pound bag will contains 1.5 cubic feet (CF) of sand. 3. Write an Excel formula for cell costs!C5 to calculate the quantity of wooden fencing in feet to be purchased. Both the outside perimeter and the playground areas will be fenced. You do not need to deduct any length for gates. 4. Write an Excel formula is cell costs!D2 which can be copied down to calculate the total material cost in dollars of grass sod.. 5. Write an Excel formula is cell costs!E2 which can be copied down to calculate the total labor cost in dollars of grass sod. (hint: only certain items will have labor costs since your fraternity will be installing some of the materials themselves). 6. Write an Excel formula in cell costs!F2 to calculate the total cost of all the materials and labor. Assume you will copy the formula down the column. 7. Write an Excel formula in cell costs!D7 to calculate the total cost of all the materials. Assume you will copy the formula across into cells E7 and F7. 8. Write an Excel formula in cell costs!G2 to calculate grass sod's percent of total material cost. Assume you will copy the formula down and across into columns H and I to calculate the percent of labor and percent of total. 9. Write an Excel formula in cell costs!F9 to determine if your fraternity has collected enough money (amount raised is listed on worksheet dim) to complete the park project. 10. Write and Excel formula (true/false) in cell costs!F10 to determine if any of the cost components exceed 50% of the total cost. Page 66 11. Instead of raising the money all in one year your fraternity decided to take a mortgage for the total cost of $30,000 and pay it back over 10 years. The current loan rate at your bank is 8% per year compounded monthly. Write an Excel formula to determine the amount of money you would need to raise each year in order to cover the required payments of this loan. You do not need to use cell references when writing your formula. 12. Another possibility to fund this project is to use the savings bond that was left to the fraternity from a wealthy alumna. The bond was originally purchased for $5000 and has been accruing interest at the rate of 10% per year compounded quarterly for the last 5 years. Write an Excel formula to determine the current value of the bond. You do not need to use cell references when writing your formula. 13.Write an Excel formula in cell prices!D9 to determine if all items will be installed by a contractor. 14.Write an Excel formula in cell prices!D10 to determine if only sod is installed by a contractor. 15. Write an Excel formula in cell costs!D11 to determine the total cost of materials for items which are not being installed by contractors. Page 67