I created a calculator in Excel which looks pretty simple but has various formulas to get what I need however I'm notice that the Development Hours seems to have a different calculation in my Total Cost. I'm thinking it has something to do with decimal places but I researched and couldn't figure it out. Please see attached excel workbook.
Excel Workbook Download
Development Hours: 22.6
Quality Check: 3.8
Project Management: 4.0
Cost per Hour: $150.00
TOTAL COST: $4,558.50
The actual total hours = 30.4 x $150.00 = $4560.00
the difference is $1.5 and not sure what is causing it to miscalculate. After calculating each category separately I determined it was the Dev Hours that's being miscalculated...
In your question you ask about = 30.4 x $150.00 = $4560.00 while in your attachment it says 22.5+3.8+4.0 which total to 30.3 not 30.4. This tells that it is due to rounding.
To avoid this nest your values in the round function as:
=ROUND(your formulas and functions,1)
Note that you need to the ROUND function in the calculation cells for Development Hours, Quality Check Hours, and Project Management. If you'll do it just for the TOTAL COST calculation it will round the total cost value but it won’t calculate the rounded values.
Related
I'm putting together a monthly pro forma in Excel for a multifamily property where 10 units will be renovated and each unit renovation takes 45 days. After the unit is renovated, the unit will bring in an additional $100/mo. I managed to calculate the unit-months of vacancy per month via multiple rows of IFS statements and using the actual number of days for each renovation (I used 45 days in the calculation instead of having to roundup to 2 months).
I'm trying to come up with an algorithm to calculate the cumulative rent premium for renovated units in each month using 45 days of unit down time rather than rounding the down time to 2 months.
The solution is easy if I round the downtime to 2 months: The beginning of the row is summed until 2 cells before the current month and we simply multiply by the premium of $100. But I cannot come up with a solution that uses the actual days (45) as I did for unit-months of vacancy.
I'm not even sure if this can be done unless the pro forma is done daily. Is this correct or is there an algorithm to calculate this on a monthly basis as its laid out?
I'd appreciate any help. Thank you for your consideration.
So I am trying to find my average time in Excel and I have been using the average function but even though I do not know what the exact value should be I know that what was being returned was way off. So I googled Excel time format and followed the instructions and changed my time from MM:SS format to H:MM:SS format; because the article said that way I am guaranteed to get correct averages when I use Excel's native average function.
However, I am running Excels average function on mixed values like the below:
1:20:30
0:04:00
0:00:30
0:00:05
--------
Average: 0:21:16
Can someone just please share their expertise with me and verify that the above average calculation is correct that I obtained by just easily using Excel's native average function.
I just want to be sure before I change everything on my spreadsheet.
Working with times and their various formats/representations can be tricky in Excel - sometimes I convert to serial and then multiply by 24 to ascertain the number of hours in the day, other times not. In your case, this appears to be straight forward and can easily be verified.
Here/screenshot refer:
Mathematically: you can determine the number of hours, minutes, seconds directly from what you have using respective equations as follows:
=hour(E4)
=minute(E4)
=second(E4)
Determining the average is then a trivial exercise by summing and dividing by the count (4), which reconciles (as can be seen).
Let's apply logic too: average of 21 mins looks about right - consider equivalent scenario of average running time for 4 athletes, where one of them takes 80 mins and the others take under 5 each - average time will be around 20 mins (~80/4).
i have a yearly unit that i divide by a percentage to give me the monthly equivalent. I have a growth formula that increases the monthly unit to a yearly one month by month, how can i create a formula that give me the actual unit per month not the growth. Example
4
5
7
8 this is the growth but i what 5-4=1....
7-5=2...
=ROUND(Q59*$B$49,0) is how i get 4..5..6..7..8 how do i get to 1..2..1 in one formula . Thanks
If I'm understanding you correctly you are looking for the incremental increase rather than the total increase. Without more information it is difficult to understand exactly what your looking for, but your formula sounds like it is multiplying over 100%. You want to multiply by the percentage of increase. so essentially what your doing is adding the beginning balance back in. Change your percentage in the cell to the increase and not the increase plus beginning.
am struggling with the application of goal seek function in excel. Am forecasting production for an oil well however we have a target cumulative production expected after say 20 years of production. I have produced table columns of monthly production rate and cumulative production. I would like to play (create sensitivity scenarios) with my expected cumulative production.
Can i use goal seek to change the production forecast profile per month by just changing the cumulative production at the end.
Also advise alternative functions should goal seek not be the right function for this task.
Appreciate your support
This is really just an example of what #DanK has already mentioned. Say ColumnB figures are actual production (in black) and estimates (in blue). The estimates in this case computed as number of days in the month times the factor in D1 ("daily production"). To ramp up production so that the total cumulative production (in the example below, for 1-1/2 years, rather than all 20 as in the example above), presently estimated to be 115,620 units is instead 150,000 then Goal Seek might be applied so:
whereupon the D1 value (200) should change to 287 (and the total in B19 to 150,000, and all the blue values change also). The principle should work if, say, June 2015 were calculated as 16*D1 rather than 30*D1 to allow for planned suspension of production. If that fortnight were an intervention to add production from another reservoir anticipated to be 100 per day then Goal Seek would not adjust "100 per day" but would adjust a new daily rate of 1.5*D1.
I'm looking to compute and show individual row totals and a Grand Total. I just need the formulae to put in the boxes so the calculation is automatic but the problem is the calculations are a little complicated...
I'm using data validation to select the day type. This is what I think I need:
Assign a price to the day type (either Standard day = £23 or Extended day = £26).
Apply a volume discount where appropriate. If Jack is attending all week (5 days) and the day type is the same for all (all Standard or all Extended), the total cost is £100 (or £120)
Else the total number of days needs to be added up for Jack. (Number of days for each ‘day type’) and priced up.
For his siblings after the first, as above but apply an additional discount of 15%.
The grand total then needs to show at the bottom.
Well, it is not the best of data layouts but this may serve, in L6 and copied down to L13:
=IF(OR(A6="Brother",A6="Sister"),0.85* IF(COUNTIF(B6:F6,"Standard day")=5,100,IF(COUNTIF(B6:F6,"Extended day")=5,120,COUNTIF(B6:F6,"Standard day")*23+COUNTIF(B6:F6,"Extended day")*26)), IF(COUNTIF(B6:F6,"Standard day")=5,100,IF(COUNTIF(B6:F6,"Extended day")=5,120,COUNTIF(B6:F6,"Standard day")*23+COUNTIF(B6:F6,"Extended day")*26)))
and =SUM(L1:L16) in D16.
It would be better practice not to hard code the daily rates/discount, but extracting these from C1:D2 would have increased the length of the formula further.
Note also the result is not £429.95 (you may have changed your example after doing your calculations).