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Exp22_Excel_Ch06_ML2 - Employee wages 1.1 | Exp22 Excel Ch06 ML 2 Employee Wages 1.1_Mylab_Excel

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Exp22_Excel_Ch06_ML2 - Employee Wages 1.1

Project Description:
You are the business manager for Hamilton Classic Timepieces, an independent jewelry maker that specializes in timepieces. Your company has three full-time and five part-time employees. Your store is currently open 40 hours per week, and based on demand, you require 200 weekly labor hours. Full-time employees work between 30 and 50 hours per week. Part-time employees work between 1 and 20 hours per week. You want to use Solver to help determine the work schedule for the week. Your goal is to schedule all 200 labor hours while minimizing the wages paid. You will create name ranges where appropriate and create an answer report to document your results.
1 Start Excel. Download and open the file named Exp22_Excel_Ch06_ML2_Wages.xlsx. Grader has automatically added your last name to the beginning of the filename.
2 Create range names based on the values in the range I10:I11.
3 Edit the range name Gross_Earnings so it displays as Gross.
4 Apply the Gross and Total_Wages_Paid range names to the formula in cell I12 using the Apply Range name method.
5 Load the Solver add-in if it is not available. Set the objective cell to Min Total Wages Paid (cell F13).
6 Assign Hours Worked (range E5:E12) as the Changing Variables Cells.
7 Set a constraint to ensure hours scheduled per employee are whole numbers.
8 Set constraints (two required) to ensure full time employees work between 30 and 50 hours per week.
9 Set constraints (two required) to ensure part time employees work between 0 and 20 hours.
10 Set a constraint to ensure exactly 200 hours are scheduled for the week.
11 Solve the model and create an Answer Report to outline your findings.
12 Create a new worksheet named RangeNames and paste a list of the range names created for the analysis starting in cell A1.
13 Save and close Exp22_Excel_Ch06_ML2_Wages.xlsx. Exit Excel. Submit the file as directed.