Calculate the total revenue from the provided data, showing the steps and formulas used in Excel.

Question

ScanSolve AI Tutor · Accepted Answer

Here is the answer for Question 1 based on the provided data:

Identify the relevant columns.
The Quantity is in column H and the Price is in column I.
State the formula for calculating revenue for a single order.
The revenue for each order is the product of its Quantity and Price.
$\text{Revenue}_n = \text{Quantity}_n \times \text{Price}_n$
In Excel, for a specific row $n$ , this would be Hn*In.
State the formula for calculating Total Revenue.
To find the Total Revenue, you sum the revenue of all individual orders. Based on the visible data, the orders range from row 2 to row 32.
The Excel formula to calculate the total revenue directly is:
$\text{=SUMPRODUCT(H2:H32, I2:I32)}$
Alternatively, if you calculate the revenue for each row in a new column (e.g., column J, where $J_n = H_n \times I_n$ ), then the total revenue would be:
$\text{=SUM(J2:J32)}$
Calculate the Total Revenue.
Using the data from the image, we multiply the Quantity by the Price for each row from 2 to 32 and sum the results:
$\text{Total Revenue} = (8 \times 4033) + (8 \times 1452) + (1 \times 2181) + \dots + (10 \times 945)$ $\text{Total Revenue} = 32264 + 11616 + 2181 + 22056 + 1335 + 937 + 19012 + 28818 + 3150 + 8000 + 37648 + 8682 + 25716 + 6477 + 3932 + 12348 + 10550 + 9710 + 1484 + 3232 + 3884 + 5940 + 48160 + 8318 + 16760 + 49560 + 542 + 9072 + 8740 + 10190 + 9450$ $\text{Total Revenue} = 406034$
The total revenue is $\text{406034}$ .

Answer