A . Open Week5 _ Lab6 _ Adair _ Daycare _ Student . xlsx . Notice that Adair has provided the basic assumptions concerning her costs and her revenue . B . Complete the following calculations . Revenue
• Total Revenue : Multiply tuition per day times number of days by number of children . Variable expenses are those expenses that will depend on the number of children served each year . Jane has provided the assumptions . Define annual costs based on the cost per day multiplied by the number of children multiplied by the number of days .
• Food Expenses
• Supply Expenses Teacher Cost : Create a VLOOKUP function to determine the annual teacher cost . The Lookup Value is the number of children . The Lookup Table is in cells E3 : F7 . The Index Column is the second column in the table . You want the closest match . Multiply the LOOKUP function times the annual teacher salary . Total Variable expenses : This will be the SUM of all of the Variable Expenses ( B17 : B19 ). Summary . Use formulas in these cells because you will wish to change the values in your assumption section to see how these changes impact the Net Income . Total Revenue should refer to the Total Revenue cell ( B14 ). Total Expense is Variable Costs + Fixed Costs . Net Income is Total Revenue - Total Expense C . Rename the file according to the file naming conventions as shown at the top of this page . Your Income Statement should look like the one below , but it is important that you have created formulas rather than typing in amounts . As you perform What-If analysis , the formulas will be recalculated to show you the results of changing assumptions . Image Description STEP 2 : Analyze the Difference in Total Expenses and Net Income When You Vary the Number of Students Adair desires to look at the differences in her net income depending on the number of children she cares for . Her house will accommodate no more than 15 children , and she believes she should have no less