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• Level: GCSE
• Subject: ICT
• Word count: 2003

Model Price Chart.

Extracts from this document...

Introduction

Task 5: Model Price Chart For this task I will have to produce a model price chart in a spread sheet format to figure out the most appropriate prices to charge for each of the products being sold by Holly Grove High School. They need to maintain enough profit to fund sports day without charging an extortionate amount for the drinks, and this chart is intended to help this. I need to produce a system in which the decision concerning the prices can be easily resolved. The school have noticed that different amounts of drinks are sold during different weather conditions, and so have asked me to account for this by calculating the most suitable prices for each type of weather. I will have to keep the following factors in mind when creating the price chart: * It will have to show the minimum profit available to the school * The price chosen using the chart much cover the total cost of Sports Day * We must account for the money given by Helmcroft Hall and the ice cream van, and deduct it from the over all profit total. * There must be 5 different spreadsheets, one for each weather condition with the prices altered accordingly. * It must be easily updated for use in the following years * The prices chosen must be payable (i.e. ...read more.

Middle

To make sure that the spreadsheet is easy to understand and clear to read, I will make a sample chart to accustom myself with the system. Firstly, I will have to work out the total amount of money being spent on Sports day so I will then know the minimum amount that will have to be raised. I can then account for the sponsoring and any other money coming in other than from the refreshments etc. Then I can calculate the cost of the drinks to the school, and use the information given to me on the predicted sales in the varying weather conditions, hopefully resulting in 5 different total costs. This will show the minimum amount of money to be raised whilst ensuring the school makes a small profit. I will then have to work out the most apt price for the cold drink while the hot drinks are 60p as long as it is no more than 60p, as previously mentioned. The amount of cold drinks purchased will obviously be depending on the weather as more people will be expected to buy cold drinks in hot weather etc, so I will vary the price because of this for each type of weather. I will do this by using the other information and seeing which cost stops the school losing money. Next, I will do the same but with the price of a hot drink being 55p. ...read more.

Conclusion

I then worked out the profit made on the drinks, and then deducted the fixed cost of the day to see what overall profit if any, was being made in that circumstance. I decided to increase my price by �0.01 each time to compare the results and continued raising my price until it reached �0.60. I did the same to the cold drinks results as I did to the hot drinks results, I multiplied the price charged for the cold drinks by the total number of cold drinks sold for each type of day. Task 5: Evaluation I believe that my model price chart fits with the required criteria: * It will have to show the minimum profit available to the school * The price chosen using the chart much cover the total cost of Sports Day * We must account for the money given by Helmcroft Hall and the ice cream van, and deduct it from the over all profit total. * There must be 5 different spreadsheets, one for each weather condition with the prices altered accordingly. * It must be easily updated for use in the following years * The prices chosen must be payable (i.e. they need to be integers) * The chart should ensure that no money is lost and not too much is gained. * The price range of a hot drink must be 55p - 60p * The cost of a cold drink must not exceed 60p I worked out the suitable prices for both drinks and the profit made in each weather condition. ...read more.

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