PRACTICE EXAMINATION 2026 QUESTIONS
WITH ANSWERS GRADED A+
• Use the SUMIF function to complete the "total hours" column in table 1 as
your range and the "employee" names in table three as your criteria..
Answer: =sumif($D$16:D35, G39, $E$16:$E$35)
• Enter the fixed costs in the model. Reference the appropriate amount for
each product type in the "Model Inputs" section..
Answer: Programs=C6 Food=D6 Merchandise=E6
• 17. Calculate the profit before the arena fee for each product type. This is
the gross profit minus the total operating expenses for each type of product,
including the salary expenses (yet to be calculated)..
Answer: Programs=C17-C24 Food=D17-D24 Merchandise=E17-E24
• Calculate the total interest paid in cell G13. The total interest paid is the sum
of all interest paid in the "Interest" column of the amortization table..
Answer: =SUM(D20:D67)
• Use the CONCAT function (or the CONCATENATE function if you are
using Excel 2013 or earlier) in cell J18 to create the "Date" by combining
the "Month" in cell E18 with the "Day" in cell F18. "Date" should use this
syntax: "Month/Day." Your function should, therefore, also insert the "/"
character between the "Month" and "Day." Copy and paste your formula
down to complete the "Date" column of the table..
Answer: =CONCAT(E18,"/",F18)
• Use the IF function to complete the "Time Bonus $" column of table 1. If an
employee earns a time bonus (i.e., the corresponding cell in the "Time
Bonus?" column is TRUE), then "Time Bonus $" is the "Job Pay" for that
project times the bonus percentage in cell M11. Otherwise "Time Bonus $"
is 0..
, Answer: =IF(I16=True, K16*$M$11,0)
• Use the CONCAT function (or the CONCATENATE function if you are
using Excel 2013 or earlier) to create the "Transaction Statement" in cell
K18. The statement in cell K18 should read "I spent $24.06 at merchant
#4931 on: 8/1". To make this statement, combine "Statement P1" in cell
D13, the "Amount" in cell D18, "Statement P2" in cell D14, the "Merchant
ID" in cell C18, "Statement P3" in cell D15, and the "Date" in cell J18.
Copy and paste your function down to complete the "Transaction
Statement" column of the table..
Answer: =CONCAT(D$13,D18,D$14,C18,D$15,J18)
• Use the SUMIF function to complete the "Total Pay" column in table 3.
Reference the "Employee" field in table 1 as your range, the "Employee"
names in table 3 as your criteria, and the "Total Pay" field in table 1 as your
sum_range..
Answer: =SUMIF($D$16:$D$35,G39,N16:N35) looks in table range
D16-D35, looks for value from G39, Adds the number from table range
N16-N35
• Calculate, in cell D20, the interest amount for period 1 by multiplying the
balance in period 0 (cell F19) by the loan interest rate (cell C13) divided by
12. Dividing the interest rate by 12 results in the monthly interest rate. This
formula is reusable. The interest for a given period is always the monthly
interest rate times the balance from the previous period. f.
Answer: =F19*0.065/12
• In the "Input Analysis" section of the spreadsheet model, calculate a sales
forecast for each type of product if expected attendance at the future event is
18000 people. Reference cell I13 (the attendance forecast) for your
calculations..
Answer: =FORECAST($I$13,'Past Events'!D4:D103,'Past
Events'!C4:C103) =FORECAST($I$13,'Past Events'!E4:E103,'Past
Events'!C4:C103) =FORECAST($I$13,'Past Events'!F4:F103,'Past
Events'!C4:C103) Remember your X value for the forecast formula should