Help with a formula

b_tree

Hello,

This is probably a basic question... I am wondering how to input a formula that would allow me to calculate the value/price of something based on a drop-down selection.

For instance, column A would have a drop-down options listing different tree species. For example, Redwood, Elm, and Walnut.

Column B would have the board feet of a slab/board we have in stock.

I want column C to calculate the price of each board based off of the known value of the species.  It would know that if the first cell has 'redwood' selected than the price is $7 per board foot, 'elm' has a price of $8 per board foot, 'walnut' has a price of $17 per board foot, etc. That would be multiplied with the board feet in column B to give me the value of the board.

I'm a spreadsheet rookie.  Is this possible?

 

Mike Wilday

=IF([Column C Name]1 = "Walnut", [Column B Name]1 * 17, IF([Column C Name]1 = "elm", [Column B Name]1 * 8, IF([Column C Name]1 = "redwood", [Column B Name]1 * 7)))

Should do the trick.

• Put your own column name in the brackets. If your column name has no white space and doesn't end in a number, then you don't need the brackets. 
• This formula assumes row 1 (hence the 1 after the column name)
• Format the column you put that formula in with the $ in the tool panel, to get a monetary value. 

Hope that helps. 

b_tree

Thanks so much, Mike.  This got me on track.  I just had to swap out [Column C Name] with [Column A Name] because I was ending with a circular reference.

Exactly what I needed.  Thank you!