how to work out rate based on total time and total amount
I am just trying to do a column of 'average rate' So if Joe Bloggs (Cell A5) has 35:00 hours of billable time (D5) and we charged out £3112 (H5) how much is the average rate per hour (L5). I know that this would be as simple as 3112/35=£88.91 per hour however most are like 35:26 (hours:mins) so I could turn it all into minutes in another column so it would be 2126(Cell B5) therefore =SUM(H5/B5)*60= £87.82 but can I do it without adding a new column?
Re: how to work out rate based on total time and total amount
welcome to the forum, Lisa. maybe:
Excel recognises dates as integers & time as decimals. to verify, type in 1jan2013 in A1. and 12 pm in B1. Format both cells to General. you will see that A1 is 41275 (meaning 41,275th day from 1 Jan 1900) & B1 is 0.5 (1/2 a day).
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