In the Part$-$Time Expenses sheet, insert into cell E$8$ a formula to calculate the total annual parttime expense. The Benefit $\%$ is an estimate in the form of a percentage of total wages and needs to be added to the cost of wages based on the average part$-$time hours multiplied by the average hourly rate.

$9$ Create three scenarios based only on a variation in part$-$time hours. The number given is the expected hours needed for next year. The actual hours are expected to vary between $85\%$ and $120\%$ of the projected hours. Create three scenarios that show the effect on a Min, Avg, or Max usage of hours on the Total PT Wage Expense. Create and name the scenarios $($in this order$)$ as Min Hours, Avg Hours, and Max Hours.

Create three new scenarios for the same three levels of hours usage but with a $3\mathrm{.}5\%$ increase in the wage rate. Create and name these three scenarios $($in this order$)$ as Min Hours w$/$Raises$,$ Avg Hours w$/$Raises$,$ and Max Hours w$/$Raises$.$

$11$

Create three new scenarios with the same three levels of hours but a $3\%$ increase in wage ratew $($rounded$)$ and a Benefit $\%$ of $35\%.$ Create and name these three scenarios $($in this order$)$ Min Hours w$/$Raises&Benefits, Avg Hours w$/$Raises&Benefits, and Max Hours w$/$Raises&Benefits. Ensure that the Avg Hours scenario is shown.

$12$ Display the results of the nine scenarios by creating a scenario summary.

Label the rows $($in B$6$:B$8$ respectively$)$ as Part Time Hours, Part Time Wage, and Part Time

Benefits. The expense row $($in B$10)$ needs to be named PT Wage Expense. Delete the existing

Created On: $07/12/2022$