How much does this cost to make?

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Presentation transcript:

How much does this cost to make?

Who gets the money?

How is a profit calculated?

A reminder of “IF” statements in excel What is an IF statement? An IF function tests the condition of the cell (e.g. whether the sales total has passed the target) and THEN takes appropriate action (e.g. Display a message).

An example: =IF(F5>5000, “over 5000”, “Below 5000”) The formula begins =IF because it is an IF function The () brackets are testing the following: IF F5 is greater than > 5000 THEN, first comma Display the message “over 5000” IF not, second comma Display the message “below 5000”

Today you will become Managers of Rockin Records! You sell CDs and DVD in a shop and advertise on the Web You want to know how much money that you are making and will therefore use a spreadsheet to “Model” you business

Summary questions How would you explain a profit/ loss? How can you tell that you are making a profit/ loss using a spreadsheet? Was Rockin Records profitable? Were there any unprofitable CDs? If so, why? How could you make that particular CD profitable again?