Problem:  You are an intern employed by the Cortez Company working in the Information Systems (IS) department.  Your IS supervisor has asked that you create a proposed budget for the upcoming year for the three divisions of the company.  The budget show the proposal values for the upcoming year and the current year's budget and the variance between the two years.  You are to consolidate the three divisions onto one budget proposal.  The president has requested that you chart the company consolidated budget proposal for 1999.  An example of the company report is shown below.

Data for the budget proposal for North America, South America, and Europe is shown below.
 
 

1. Create sheets for North America, South America and Europe.  Then group the sheets and enter the labels and formulas on the sheets using the data above.  (Don't enter the values while the sheets are grouped because you don't want the same values on all sheets!)  Calculate the Variances by subtracting the 1998 values from the 1999 values and dividing the result by the 1998 values for each category.  For example, Direct Materials Variance for North America = (B6-C6)/C6.

2. Enter the values on each of the sheets..

3.  Create a Company Wide Report on another sheet.  Calculate the values for 1999 and 1998 for each category by adding the corresponding values for North America, South America, and Europe.  For example, calculate the 1999 values for direct materials in the Cortez Company sheet by adding the North American value, South America value, and Europen value for direct materials.

4.  Format the sheets as shown.

5.  Save the  file using the name Cortez Company Budget Proposal.

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