Question: In order to prepare the Chippewa Chocolates (CC) master budget in your ACC 255 class, you will first need to gather and analyze data from the CC company database. Specifically, you need to complete the following tasks:
1. Determine the projected sales for next January.
a. Create a query to report the total SalesAmount by SalesMonth. Save the query as: Task 1 Sales By Month.
b. Copy the results and paste them into a worksheet in Excel. Make sure the data is in calendar order and then use the TREND function to determine the sales for January. Format the answer as currency with 0 decimal places.
c. Rename your worksheet tab to "Task 1".
2. Determine the average monthly sales increase (as a percentage).
a. Using the Excel worksheet from Task 1, copy the data from the first sheet into a new worksheet. Create a column next to the sales data called Monthly Sales Increase (%). Calculate the Monthly Sales Increase (%) as follows:
= (Current Month's Sales - Previous Month's Sales) / Previous Month's Sales
Calculate the values for February through December only. Format the values as percentages with 0 decimal places.
b. Use the AVERAGE function to average the Monthly Sales Increase (%) values.
c. Rename your worksheet tab to "Task 2"