1 Creating a Budget in Excel We will be learning how to create a budget using simple formulas in Excel. 1. Create lists: • Title “Item” in C5 • Under the item list the purchase and type them into excel under a column titled “Item”. • Create 5 rows of items, C6 through C10. • Then, create two more columns titled “Cost”, “Quantity”, “Total Costs”. 2. Enter the item’s cost and quantity desired under the appropriate column. 3. Formula of Total Costs Column: Next, we will enter a formula that will calculate the total cost of each item. • Write the formula in the “Total Cost” column. • Select the cell that you want the formula to go in (in this case “F6”). • Type “=” (This is telling the computer that we are entering a formula into the cell.) • Then, type the two cells you want to multiple together. Example: =(D6*E6). The asterisk symbol in Excel means to multiply, which means we are telling the file to multiply the value of D6 and E6.

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CreatingaBudgetinExcelWewillbelearninghowtocreateabudgetusingsimpleformulasinExcel.

1.Createlists:• Title“Item”inC5• Undertheitemlistthepurchase

andtypethemintoexcelunderacolumntitled“Item”.

• Create5rowsofitems,C6throughC10.

• Then,createtwomorecolumnstitled“Cost”,“Quantity”,“TotalCosts”.

2.Entertheitem’scostandquantitydesiredundertheappropriatecolumn.

3.FormulaofTotalCostsColumn:Next,wewillenteraformulathatwillcalculatethetotalcostofeachitem.

• Writetheformulainthe“TotalCost”column.

• Selectthecellthatyouwanttheformulatogoin(inthiscase“F6”).

• Type“=”(Thisistellingthecomputerthatweareenteringaformulaintothecell.)

• Then,typethetwocellsyouwanttomultipletogether.Example:=(D6*E6).TheasterisksymbolinExcelmeanstomultiply,whichmeanswearetellingthefiletomultiplythevalueofD6andE6.

4.Pressthe“Enter”keyandthefilewillmultiplythevaluesofthetwocellstogether.

5.Draggingtheformula:BecausethesameformulaisneededinF7,F8,F9,andF10,wecandragtheformulafromF6intotheothercells.

• Selectthecellthatcontainstheformulayouwanttodrag(inthiscase,F6).

• Takeyourcrosshairatthebottomrighthandcornerofthecell,clickanddragitdowntothelastcellyouneedtheformulatoappear.Theformulahasbeencopiedtoeachcellandwillnowmultiplythevaluesdirectlytotheleft.

6.GrossCost:Createacellwiththewords“GrossCost”atthebottomofthecharttotheright.

• Inthecellunderneathit,type“6%PAsalesTax”.

• Belowthat,type“NetCost”.

7.CalculatingGrossCost.TheGrossCostisthecostoftheitemsminussalestaxandShippingandhandling.Therefore,weneedtoaddtogetherthecostsoftheitemstofindoutthegrosscost.

• SelectthecellthatyouwanttheGrossCosttoappearin.ClicktheΣ symbollocatedinthetoolbar.Aformulawillappearinthecell.

• Highlightthecellsyouwanttoaddtogether(inthiscaseF6‐F10).Thecellnameswillautomaticallybeputintotheformula.Pressenterandthefilewillautomaticallyaddtogetherthetotalcostofyouritems.

8.SalesTax:PAsalestaxis6%orindecimalform(.06).Inordertofindwhatoursalestaxwillbe,wemustmultiplyourtotalcostby6%.

• Sinceourtotalcostappearsincell“H12”,weneedtomultiplythatcellby6%.

• Selectthecellyouwantthesalestaxtoappearin.Type“=(“,whichagainmeansthatwearetypingaformula.Then,type“=(H12*.06)”.Again,the*inExcelmeansmultiplication,whichmeanswearetellingthefiletomultiplythevalueofH12by6%.Push“Enter”andthesalestaxwillappearinthecell.