Multiply cells in column based on multiple values/text in cells in another column

[jessuzore]

I am trying to multiply the cells in one column (Column A) with the cells in another column (Column B). Column B is text, however, each text has a value. Is there a formula to calculate this?

For instance, Column A - Rate (various dollar amounts in each cell). Column B is text (Hourly, Salary, or Comm). Hourly = 2080, Salary = 26, and Comm = 0.

Here is an example:

Column A Column B Column C
1 $0.00 Comm
2 $4315.64 Salary
3 $15.50 Hourly
4 $21.00 Hourly

The answers in Column C should read - C1-$0.00, C2-$112,206.64, C3-$32,240.00, and C4-$43,620.00

Thank you, so mcuh

 

[sstiebinger]

=A1*if(b1="hourly",2080,if(b1="Salary",26,0))

 

[jessuzore]

Should I include Comm?

 

[jessuzore]

And do I need an end parenthesis after 2080?

 

[jessuzore]

OH MY GOODNESS! It worked! Thank you so very much!!!!!!!!!!