Time Cost Formula

[buxguy]

I am trying to create a spreadsheet that will give me time cost by calculating service hours by cost/hour. In cell M3 I am using the time format h:mm and entering 3:00. My cost/hour is $75 dollars and in cell N3 my formula reads as =m3*75, which returns $9.38. I know that if my service time is 3 hours then my time cost should be $225. How can I have excel return the correct time cost?

 

[Brian from Maui]

I am trying to create a spreadsheet that will give me time cost by calculating service hours by cost/hour. In cell M3 I am using the time format h:mm and entering 3:00. My cost/hour is $75 dollars and in cell N3 my formula reads as =m3*75, which returns $9.38. I know that if my service time is 3 hours then my time cost should be $225. How can I have excel return the correct time cost?

You'll need to convert your hours to a decimal by multiplying by 24 then multiply by cost

 

[buxguy]

THANK YOU!