Using times with currency calculations


show more Using times with currency calculations provides you with in-depth training on Business. Taught by Dennis Taylor as part of the Excel 2010: Working with Dates and Times show less
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Using times with currency calculations

If you are working with time entries and currency in the same worksheet, the calculations might not be quite what you'll expect. Let's look at the information in Column B. This represents Time Worked 5 hours, 7 hours and 15 minutes, and we have a Rate that someone is presumably being paid for. We need a formula here. You can see on the first example 5 hours, $10:00 an hour. We know what the answer is. It's going to be $50. So it's just a simple multiplication. Take this, times this, and sure enough our answer is not even close.

It does point the problem that we have sometimes in working with time data. Now, remember times are recorded as portions of days. One approach to these when you can't figure out what to do is to think, well, if it should have been 50, and it's 2.08. What's the multiplier? Well, probably not so obvious at first, but we do know about 24 hours a day, and let's try that. Of course, not just try it. It does make sense here. We need to take ...

Using times with currency calculations
Video duration: 2m 44s 1h 20m Intermediate

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Using times with currency calculations provides you with in-depth training on Business. Taught by Dennis Taylor as part of the Excel 2010: Working with Dates and Times

Subject:
Business
Software:
Excel
Author:
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