This document provides a lesson on advanced spreadsheet skills in Microsoft Excel. It discusses using Excel to estimate the product cost of a milk tea by inputting ingredient costs and calculating the total. It then adjusts the estimated sale price to ensure it is profitable. The document also discusses using Excel to analyze survey data on the milk tea by calculating averages of ratings and counts of yes/no responses using formulas like SUM, AVERAGE, and COUNTIF. The goal is to teach how to use Excel for market research and product development.

1. L
e
s
s
o
n
4
: A
dvanced Spreadshee
t
S
k
ills
ETECH
Using Microsoft Excel

2. O
b
j
e
c
tives
At the end of this lesson, the students should be
able to:
1.) Familiarize the most commonly used functions
in
Microsoft Excel
2.) Use several conditional functions available in
Microsoft Excel
3.) Use Microsoft Excel as a viable tool in market
research and product development

3. Whether you work in the field of accounting or not,
the truth is whatever you do should be accounted for.
This is
because the resources you use cost you expenses.
Whether
you become a scientist, an engineer, a yoga instructor, a
bartender, or an airline pilot, it is important to
understand
how a company spends to be able to deliver a product or
service. These factors could easily be computed using
spreadsheet programs like Microsoft Excel or Google
Sheets.
Discussion

4. Let us assume that we are going to
sell milk tea with the
following information:
E
s
t
im
a
t
in
g
th
e
P
roduct Cost using
M
ic
r
o
s
o
f
t
E
x
c
e
l

5. Product Information
Product Name/Brand: Starbuko Organic Milk Tea
Company/Group Name: Starbuko Foods Corporation
Product Description:
Starbuko Milk Tea is a special milk tea using organic
ingredients especially made for Filipinos.
Ingredients: tea, water, condensed milk, ice, special sweetener
Estimated Sale Price: 25 Php per cup

6. We will use Microsoft Excel to find out if
our estimated sale
price is reasonable considering the actual
price of the ingredients.
1.) Copy the information below:

7. 2.) Use the SUM formula to get the summation of the
values from C4 to C7. The SUM formula is
=SUM(C4:C7).
Type this on cell C8 as shown below:

8. 3.) Check if our estimated price will earn us profit. Type
the additional information shown below then apply the
arithmetic formula for subtraction:

9. 4.) The result is PHP 2.20. Our estimated price is not
profitable. Let us make an adjustment. Include the
information below and deduct the Total from the New
Sale
Price:

10. 5.) The result is PHP 7.80. This is
definitely profitable at
this price. However, this does not
guarantee our product
success.
6.) Save your file as L4 Cost
Ingredients.xlsx.

11. It is now time for us to collect data from out target
market. In reality, researchers would also come up with
survey questions before they release the product. The
data
they gathered would help them determine if the product
has any chance of succeeding in a target market.
Analyzing Data using
Microsoft Excel

12. Figure 1. Raw Survey Results of Starbuko Milk Tea Survey

13. Obviously, this data is raw. Assuming that
we have a hug sample, we have to apply
several formulas to be able to easily
analyze the result of this survey.
Let us start by simple average formula to
determine the average rating of Quality,
Taste, Presentation, and Product.
The syntaxa would be =AVERAGE(cells
involved).
Example:
Using figure 1, determine the average for
Quality:
=Average(F5:F19)

14. Determine the average for all your criteria and place them at the bottom of your survey
results similar to the screenshot below:

15. By determining the counts of yes or no, you should use the formula
=COUNTIF(cells involved,"(YES OR NO)")
Example: =COUNTIF(J5:J19,"YES") and also the yes can be counted because
there is a specific word in the formula being used.

16. Thank you for listening!
I hope we were able to teach you guys
how to use the formulas well in the
Microsoft Excel