Conditional Weighted Averages

Hello,

I want to use the AVGW function to get the weighted average of the column "Cost" against the column "Probability of Cost" but only if the column "Status" is Approved.  The column "Status" can also be Pending. 

The function SUMIFS works great if you don't need to do the weighted average.  Is there a preset function or workaround I could use? Is there a way to combine the SUMIFS and AVGW functions that I'm missing?