Automatically calculating amount of labels populating a sheet

I got a math equation that I wish to get to work within excel.

I'm basically calculating how many labels can go on a specific sheet. The sheet is sized as 14.875" x 11". The label is 3.375" x .75". We have gutters on the left and right side of this sheet that calculate to .375" with top and bottom gutters measuring out to .125". Inbetween each label, whether it is to the side, above or below the label is also a .125" gap. So a fun little formula I know can works is:

=(.75*12)+.375+(.125*12) Note: 12 is assumed to be the # of labels up.

=(3.375*4)+.375+.375+(.125*3) Note: 3 is the assumed # of gutters inbetween the labels, and the 4 is the assumed number of labels that populate a row.

The correct answer is 48, but I want to create a formula that doesn't assume the number of labels that can fit up the page and side to side. I want to figure out how many labels will populate a sheet with just the dimensions of the page, the dimension of the label, the gutter dimensions inbetween and on the outside of the sheet. So instead of checking will 48 labels fill the page or will 44 fill the page, I want to have the formula do it for me. Not sure if this is possible, but thank you ahead of time to anyone who might have a solution.

Your question is straightforward, but your title is awful. Please read the forum rules, then change it.

Use TRUNC function to divide (sheet dimension less two gutters) by (label dimension plus space between label)

So TRUNC((14.875-2*.125)/(.75+.125)) and TRUNC((14.875-2*0.375)/(3.375+0.125))

EDIT: actually, that will be off by one spacer...

to fix that, subtract one label width from the top and then add 1 to the result...

TRUNC((14.875-2*.125-.75)/(.75+.125))+1 and TRUNC((14.875-2*0.375-3.375)/(3.375+0.125))+1