Conditional Formula

Hello,

I am new to this forum, so hope I am getting the amount of information correct.

Nutshell:
What I would like to do is set up a formula in Column C where I can put a code of 1 or 2 in Column A and a number in Column B, and have Column C can multiply the number in B by x value if Column A is 1 and by y value if Column A is 2.


Details:
My partners and I have set up a new business. We have agreed that our time will be paid out in two tiers depending on the type of work that we do. E.g. Tier 1 will have activities that are assigned to one of us based on specific, specialized skills. Tier 2 will have activities, such as filing, which require skills but which any one of us can do.

I would like to set up a budget so that we can in Column A specify whether we have done tier 1 or 2 activities. Then in Column B we can put in the number of hours. I want to have a formula in column C that is able to calculate the payout where it multiples Column B by the tier 1 $/hr rate if Column A has a 1 in it and by the tier 2 $/hr rate if Column A has a 2 in it.

Is there are formula that will work for this?

Thank you for any input that you have.

Hi and welcome.

Try this:
=IF(A1=1,B1*X,B1*Y)
Change X and Y to the appropriate rates.

BSB

Thank you BSB! That worked perfectly and was exactly what I needed.

SJ