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Use appropriate Excel formula to answer the following:
You should include all your calculations and provide a narrative that explains the formulae you have used within the Excel spreadsheet for submission.
You have been asked to review the costs of operations at a production plant that employs 25 staff members. Some of these are permanent staff and some are temporary staff. Since 2009, there have always been 25 staff employed in the production plant, but the ratio of permanent staff to temporary staff has varied. All staff work a 40 hour week.
You also have data available since 2009, that relates to the costs of 'defects'.
A 'defect' is a product that is not made to a satisfactory standard, and needs to be recalled and replaced.
This data is shown in the Excel spreadsheet as follows:
This data allows you to work out the staffing costs for each quarter.
You know how many 'defects' there were in each quarter, and also the mean costs for each 'defect' in that period.
This data allows you to work out the costs of the 'defects' for each quarter.
The data relating to staff employed each quarter, with the associated costs, and the 'defects' in each quarteris presented in the Excel spreadsheet.
Tasks
NB Marks are awarded for accuracy and clarity of presentation.
Use a relevant Excel formula to calculate:
You should include all your calculations and provide a narrative that explains the formulae you have used within the Excel spreadsheet for submission.
You are now considering the impact of how the TOTAL COSTS are affected by the PERCENTAGE OF PERMANENT STAFF EMPLOYED (as a percentage of total staff employed).
So for example, in 2009:Q1, 8 permanent staff were employed out of the 25 total staff = 32%
Use a relevant Excel formula to calculate:
Presentation Marks for clarity of Data Table
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Answer 1.1. Calculated in the excel sheet
Answer 1.2.Calculated in the excel sheet
Answer 1.3.Calculated in the excel sheet
Answer 1.4.Calculated in the excel sheet
Answer 1.5.Calculated in the excel sheet
Answer 1.6.
In review of the data related to staff costs and total defect costs, it can be easily said that the total defect costs are directly proportional to the costs of temporary staff and indirectly proportional to the costs of permanent staff.
Answer 1.7. Calculated in the excel sheet
Answer 1.8. Calculated in the excel sheet
Answer 1.9. Depicted in the excel sheet
Answer 1.10. Calculated in the excel sheet
Answer 1.11.
The curve is explained by the indirect proportionality existing between the percentage of permanent staffs and total costs, as we can see the median value of total costs is around the higher quartile of the percentage of permanent staffs.
