Calculate the total revenue using the provided data, given Quantity in column H and Price in column I, for…

Question

Calculate the total revenue using the provided data, given Quantity in column H and Price in column I, for rows 2 to 32.

ScanSolve AI Tutor · Accepted Answer

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

Identify the relevant columns.
From the image, 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 individual order is calculated by multiplying its Quantity by its Price.
For any given row $n$ , the formula is:
$\text{Revenue}_n = \text{Quantity}_n \times \text{Price}_n$
In Excel, for a specific row, 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 in the image, 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:
$\text{Total Revenue} = (8 \times 4033) + (8 \times 1452) + (1 \times 2181) + (6 \times 3676) + (5 \times 267) + (1 \times 937) + (7 \times 2716) + (9 \times 3202) + (5 \times 630) + (8 \times 1000) + (8 \times 4706) + (3 \times 2894) + (6 \times 4286) + (3 \times 2159) + (4 \times 983) + (7 \times 1764) + (5 \times 2110) + (5 \times 1942) + (1 \times 1484) + (8 \times 404) + (1 \times 3884) + (4 \times 1485) + (10 \times 4816) + (2 \times 4159) + (8 \times 2095) + (10 \times 4956) + (2 \times 271) + (4 \times 2268) + (4 \times 2185) + (10 \times 1019) + (10 \times 945)$ $\text{Total Revenue} = 32264 + 11616 + 2181 + 22056 + 1335 + 937 + 19012 + 28818 + 3150 + 8000 + 37648 + 8682 + 25716 + 6477 + 3932 + 12348 + 10550 + 9710 + 1484 + 3232 + 3884 + 5940 + 48160 + 8318 + 16760 + 49560 + 542 + 9072 + 8740 + 10190 + 9450$ $\text{Total Revenue} = 406034$
The total revenue is $\text{406034}$ .

Calculate the total revenue using the provided data, given Quantity in column H and Price in column I, for rows 2 to 32.

Answer

Step-by-step solution

Identify the relevant columns.

State the formula for calculating revenue for a single order.

State the formula for calculating Total Revenue.

Calculate the Total Revenue.

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