Using =IFERROR formula to calculate a revenue

[EDawn]

Hello. I am having trouble with my homework. I will first put in the question in addition to the formulas I have attempted. I believe I almost have the formula, but something just isn't quite right.

I am using defined names, which are as follows:

CostPerUnit	='Profit Analysis'!$C$16
MonthlyExpenses	='Profit Analysis'!$C$17
PricePerUnit	='Profit Analysis'!$C$15

<tbody>
</tbody>

#6: In cell C19, enter a formula to calculate the revenue at the break-even point, which
is determined by the break-even point multiplied by the sales price per unit. Use the
IFERROR function to display a blank cell instead of an error value.

My formula attempts:

#1 =IFERROR(C18*CostPerUnit,"") C18(BREAK EVEN POINT(Units Sold): =IFERROR(MonthlyExpenses/(PricePerUnit-CostPerUnit),"")

#2 =IFERROR([MonthlyExpenses/(PricePerUnit-CostPerUnit)*CostPerUnit,"")


Hopefully this is enough to help me on. I am not looking for the answer but rather guidance --- an answer will not help me learn/understand as well as maybe explanation or tip or show me where i'm right or wrong in my formula building. Thank you!

 

[Scuderia]

Hi

Your formula (Excel formula) is OK based on the fact you have applied the following correctly

=IFERROR(value,value_if_error)

and it will return "" (A blank cell) if there is an error

I'm afraid I cant help with the actual calculation of your revenue at break even point!

 

[jamtay317]

ok, so I always build the formulas inside out. I would start with finding out how many items were bout so lets say 500 at and you buy them for $1, you haven $500 into it. if you sell them for $3 each then you end up needing 167 items sold because $500/$3 =166.66667 and you have to round up.
then now that you know that you can formula you can add the iferror around it. so the first statement is
=iferror(your equation,what you want it to do if it is an error(in this case you want a blank so you add ""))
I hope this helps, if you have anymore questions please ask

 

[EDawn]

Both of you, thank you. I decided to step away from my homework temporarily. When I returned I retried my first formula again.. and it worked. I must have been typing wrong or something in my exhaustion. But This site has been helpful! I know where to post any other questions I may have in the future.