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Calculation Of Tax Based On Tax Slabs

Dear All,

I have a typical problem. actually we need to calculate tax on a total income where the tax rate would change depending upon the tax slab in which the total taxable income falls. Tax would be calculated on the basis of following

Slab No. Range Tax rate
1 $0-$500 0%
2 $500-$1000 10%
3 $1000-$1500 15% plus $50
4 $1500-$2000 20% plus $125
5 >$2000 30% plus $225

Now the problem is that either I write a very lengthy "if" formula (which we have to rewrite if the tax slab changes). also this is not a one tme excercise, since tax has to be calculated in the same worksheet at 4-5 places and the taxable income would also change if other components are changed. Can you please suggest some way out???

Thanks in advance.

Vikesh


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Similar Topics







I would like to know how to make excel calculate which inventory is left in the FIFO method, quantities that are bought first are the first to be sold. Basically where the quantity and price is derived from.

For example:
APPLE
bought 100 on FEB 1 @$1
bought 500 on FEB 1 @$1
bought 1000 on FEB 10 @$1
sold 300 on FEB 12 @$1.5
bought 100 on FEB 13 @$1.1
sold 100 on FEB 13 @$1.2
bought 1000 on FEB 14 @$1
bought 400 on FEB 15 @$1
sold 2000 on FEB 19 @$1.5

For this, the formula/function would know that:
=>for the 300 sold on FEB 12, 100 bought on FEB 1 is depleted and 200 of the 500 bought on FEB 1 is depleted.
=>for the 100 sold on FEB 13, the 100 bought on FEB 13 is depleted
=>for the 2000 sold on FEB 19, it knows that:
==>the 100 bought on FEB 1, the 200 of the 500 bought on FEB 1, and the 100 bought on FEB 13 is depleted so it can't consider those quantities
==>it would consider the remaining 300 of the 500 bought on FEB 1, 1000 bought on FEB 10, and 700 of the 1000 bought on FEB 14

The remaining quantities that are left would be the remaining 300 of the 1000 bought on Feb 14 and the 400 bought on FEB 15.

I would like to know for each sold transaction, which quantities at which prices on which day were sold.

Thanks in advance!


Entering time values in custom format [h]:mm:ss
Cells accept hours over 23,
Adding cells in column returns correct total time.
Have not found a way to multiply these cells by a $ hourly rate.
So use HOUR(cell ref) and MINUTE(cell ref) to capture values in referenced
cell - then use these values to calculate total payment for $rate per hour.
However, the HOUR(cell ref) formula returns the hours in excess of 24 when
the cell contains an hour value in excess of 23 (ie 27 hours returns 3).




I have a co-worker's file that he is having trouble with. He is using Excel 2000 SP3. When copying a cell with a formula in it of "=D6+C6" and pasting it into the next cell down, it will display the same value in the cell as the calculated value from above, but has the correct formula displayed in the formula bar of "=D7+C7".

Example:
A1: 50
A2: 10
B1: 60
B2: 20

A3: Formula: =A1+A2 Displays: 60
Right click A3, Copy, right click B3, paste
A3 displays 60

When I click save, it will change the display value to 80.

I am trying this on his workstation and mine. Mine has Office 2010, so I think there might be an issue with the file itself.

Also, not just copy and paste. I can also just click the top cell after filling in the formula and then drag the bottom right of the cell downward and it will do the same of filling in the correct formula, but have the incorrect value.

I know that I could get him to just click save each time before really looking at the results, but that is just a band aid to the problem.

Any ideas how to fix this?


Hi,
I made a simple worksheet that we have been manually entering the time for employees, but there are too many errors (even with simple math). Can someone help me convert the time of ex: written 8-4:30 or 10-3 (meaning 8:00am to 4:30pm) where you have the total weekly hours? Right now I have a column for overtime. Is there a way to automatically calculate the over time also? The work day is 8-4:30 with a half hour lunch (lunch is not calculated into the hours, so you minus a half hour). 8-4:30 equals 8 hours. So, if a person works 8am to 6:30pm, how can I set it up where in the first row of time, I will type in 8-6:30pm. In the totals column to the far right, it will display 8 hours. In the (O.T.) column, it will display 2 hours.

This way, when I call in my payroll, I will have the total "regular" hours in one row and underneath, I will have the total overtime hours.

Or... does anyone have a better solution to keeping track of their hours?

Thanks!
Marty


Hi,

Im working with a large data spreadsheet that has Yes and No answers in different columns. There are blanks within the selection too.
I need to calculate only the Yes.
I have tried using the filters in the Pivot Table field list and they are not working.
So now i'm trying to add a COUNTIF formula in the Calculated Fields section.
The formula I'm using is =Countif('Time limit extension'="yes") and i get the answer "too few."
What should I be using in the formula to get the calculated field to work? I have search the whole forum and I haven't found an answer that can help me.

Please HELP!!!


Dear Sir,

If any one could give me a solution for this its will be a great help for me.

I am working in a bank and on every day we receive Month to date data of Loans and advances made by every branch with Region wise total and manager wise total. With Sum of loan and count of loan. In our MIS format the in A coulum branches are sorted and listed in a sequence with sub total Region. I have data where if if do the pivot and change the data the out put should be displayed accordingly in the MIS format. Can any one help me how can we do this or is there any other office addins/softwares are available if so the data is changed on a daily basis and if we do the pivot it will automatically copy the data to the MIS format.

Thanks.


Good afternoon!

I'm working with Excel 2003 sp 3 on Windows xp.

I have been banging my head trying to jar loose the formula to calculate man days where 1 equals 8 hours. I have one that was given to me by a coworker:

=INT(Q3/8)+(((Q3/8)-(INT(Q3/8)))*0.8)

That calculates man days from total hours. I need a formula that will total man days and return the man day answer. Example:

weekending 12/25 = 16.2 which is 16 man days and 2 hours
weekending 1/1 = 24.7 which is 24 man days and 7 hours

Total = 41 man days and 1 hour

I have also been asked if there was a way for a number to be entered into a spreadsheet and automatically put in order without a macro or "pushing a button".

Any advice is greatly appreciated!

Happy New Year!

~ Brenda ~


I'm trying to come up with a solution to calculate the man hours and days worked over multiple sheets.

I have a file that has 8 sheets. the first seven sheets are the days of the week and the 8th sheet is where I want to calculate the hours.

The days of the week consists of "Name" "Date" Hours"

The 8th sheet consists of "Name", "Days of the week in their own column (7 columns in total)", "Total Hours" and "Total Days Worked"

Now... each day is always a different group and what I'm hoping for is to create a formula that can grab each name with their hours and throw them into the 8th sheet. So when the end of the week is done I have all the Employees weekly hours and days worked all finished.

I hope this makes sense. This file is to track about 100 employees that are on a rotational work schedule.

I have attached a sample file.

Thanks in advance for your help.


I'm trying to figure out what the formula is to multiply the total hours worked per week by their hourly pay for each individual. kind of like the
=Sum(I25:I32) Formula but I want to multiply the outcome of that formula by the hourly rate of 11.00, 15.00 and 16.00. Does anybody know how this can be done? If so I would greatly appreciate it.
Thanks!
charitydc


How do I calculate the number of batches per hour? Here's what I have so far:

Cell B5: start time: 4:15 formatted as 4:15:00 am
Cell B6: finish time: 6:15 formatted as 6:15:00 am
Cell B7: total time: 2:00 formula in cell: =TEXT(B6-B5,"h:mm")
Cell B8: total batches processed: 22 (this is entered manually)
Cell B9: batches per hour: formula in cell: =B8/TEXT(B7,"h")

as long as I have this formula in cell B9 the answer comes out correct which should be 11 per hour.
If the formula in B9 is B8/B7, the answer is 264.0, Is this because of the way excel is reading the total time or the total time is formatted as a time, not an actual number? Is this the correct way to solve the problem?
answer should be 11 per hour.


I have been using Excel (XP) to make a text chart for several months. Some of
my text entries are rather lengthy. The past two weeks these lengthy entries
are showing up as pound signs (#########) when I click off the cell. I know
the text will fit in the cell, and the problem isn't solved by making the
cell bigger or using a little bit less text. I have the cells formatted as
"text" and "wrap to fit". I have printed the pages and the printed version
also has pound signs. I just want my text to show up!



Hi,

Try this...

There are some valid datas in the cells A2 (Eg. 100), B2(Eg. 200), C2 and D2.
Data validation is used in cell K2 to limit it to a set of values.

Can we implement this formula?

IF(K2="Approved")
{
A2=A3; B2=B3; C2=C3; D2=D3; K2=K3;
}
ELSE
{
no change to any values.
}

Thanks in advance...


I use Excel 2000
I have sheet muster for my clients of January, 2005 like :
( P = Present, A=Absent )
A.....B.....C.....D.....
Days Sun Mon Tue Wed
Date 1 2 3 4

1 John P A A P
2 Lucy A P P A
3
Now I want to calculate the total Sundays, Mondays, Tuesdays etc. present in
that month. How can I do this?
--
Knowldege is Power



Hi there

I am trying to calculate our On Time Delivery. I want this as a simple percentage of jobs. I have got this running in the following way:

Column M - Estimated Delivery dates
Column N - Actual Delivery dates
Column O - =IF(SUM(M2-N2)>0,1,0)

Then I have calculated On Time Delivery as: =SUM((SUM(O2:O252))/(COUNTA(N2:N252)))

This seems to work fine. My problem is, if we enter a date in Estimated without a corresponding Actual date, the formula for Column O fills out anyway and improves our On Time Delivery Percentage. How can I set this up so that the formula doesn't calculate if there is no data in Column N?

Any help much appreciated

Thanks,

James


Hello Everybody,

I am hoping for some assistance. Here is what I have....

I am trying to get counts of certain values.

This is in the same workbook but different sheets.
On sheet 1 is where my formula lies. In a cell, I want it to look at sheet 2 column B and look for instances of "A", then I want it to look in the same row it found "A" and look at the value in column "N" and evaluate if there is an amount. If there isn't skip it and don't count it, if there is a value count it if it falls within a given range.

An example of the formula is below...what am I missing?

=COUNTIF(Sheet2!B:B,(VLOOKUP(A,Sheet2!B:N,13,FALSE)=0:500))
=COUNTIF(Sheet2!B:B,(VLOOKUP(A,Sheet2!B:N,13,FALSE)=501:1000))

Thank you in advance for your assistance.


A previous poster explained what I also need; there were no responses,
so I thought I would try again.

Does anyone know of an Excel template--or a small stand-alone
program--that will calculate the interest/principal breakdown when
payments are varied in amount and frequency? Free or low-cost, please.
I need one that will work on my Mac/Office 2004. I will need to print
out periodic reports.

Here is the way the previous poster described it:
"Excel template: Loan Amortization for random/irregular payments,
figures days
between payment dates.
I have a loan with a variable beginning balance and irregular payments
with
annual large payment. (based on collections)
Would like to enter payment and date.
then Excel would figure days since last payment, interest amount,
principal
amount, Ending Principal balance.
And total interest paid, total pricipal paid
If I change the starting principal, excel would recalculate all
entries."

Thanks very much.




is it possible to put two formulasinto one cell?

On the attached timesheet there are columns IN, OUT, IN,OUT
The lunch time is worked out by deducting 'C8 from C9' and this works fine when all 'IN, OUT' cells are filled in but for some reason when just the first two cells are filled in it gives a -12 hour answer.

looking at cell 'C11 ' in the attached worksheet, I currently have the formula
=IF(C13=0,","SUM(C9-C8)) The reason for this is to make it look tidy by having blank cells until a calculation is needed,, My problem is, If someone just comes in for the morning one day for instance 8am to 12 noon then they won't have lunch, but C11 will show -12:00
Can I put another formula into C11 to tell it not to deduct C8 from C9 until a time is put into C9.
The following is the sort of thing (many variations) I have been trying but because I'm hopeless at formulas I'm not having any success
Thanks

=IF(C13=0,","SUM(C9-C8))OR,IF(C9,ISBLANK,"",SUM(C9-C8)


I am trying to figure out how to write a formula to figure out production cycle time.
We will be building 8 "widgets" a day.
We will work 10 hours a day.
There is a 20 minute break at 9:20 am.
Production shuts down for lunch 30 minutes for lunch at 12:30.
Production starts at 6:00 am.
Here is what I can do.
Production cycle time = (10*60)-30/8 or 71.25 minutes
If we start at 6:00 am, the first scheduled cycle completion time = TIME(6,0,0+71.25/1440)

My problem is when I am trying to use a logical "IF' statement to account for the 20 minute break or lunch and still calculate the end of each cycle time through the day I receive a number of error messages.
This is the formula I am trying to make work. I have the cell the formula is in, formatted with a "mm,ss" format.
=(IF(D4+G1/1440>9:20,(D4+G1)/24,(D4+G1+15)/1440))
I have included an attachment to help (a picture is worth a thousand words).

Any help will be greatly appreciated.
I have bought a number of books in an attempt to figure this out, and I am still stumped


Hi all -

Im very familiar with how to write a macro to automatically autofilter a list based upon a Cell Value (i.e. Range =(A1)...etc.).... but what I cannot figure out how to correctly write is a way to have Excel automatically autofilter a list for any row that CONTAINS the Cell Value, instead of just the exact value.

Cell Value = "birds"
Example -- I need to filter every row so that I see every row that CONTAINS "birds" in the character-string, not just the row that = "birds".

a) is this possible?

If not, I'd like to know also so I can stop attempting to guess (-;
Thanks!!!

Matt

I am trying to calculate the average Talk Time into Minutes and Seconds. Every time I have tried, I get the wrong average.

For example, if I have a total of 53 calls and the total talk time is 4:19:05, what would the average talk per call be? I tried doing everything in seconds (this would give me a total of 15545 seconds) but the total I was getting is 4:89.

What would the formula be to get the correct average time?