Calculating time and sale value

[ianlj]

I am trying to calculate the potential sale value of a product, based on the time it takes to make it over an hour.

Unit	Calculation	Value
Sale price per widget		$5.00
Production time per widget (mm:ss)		2:10
Production volume per hour (60 minutes/ Production time per widget)	60/ 2:10	28.57
Potential sale (Production volume per hour * Sale price per widget)	(28.57 X $5:00)	$142

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Can any show me how to automate the time calculation of the Production volume per hour (60 minutes/ Production time per widget).



Thanks

 

[Eric W]

Assuming you have the production time in C3, and it's formatted as a time (I used 12:34:56 time formatting), the formula in C4 could be:
=60/(MINUTE(C3)+SECOND(C3)/60)

Then you'll need to change the format in C4 to a number format, since Excel will pull the time format over.