How do I convert time (hh:mm) to value ($$) in Excel?
 

Would like to calculate cost of time. Eg. Cost for production down time per
minute is $100. Says production doen for 3.5 hrs, what is formula shall I
apply in order to generate the cost (in $$).

How do I convert time (hh:mm) to value ($$) in Excel?
 

=3.5*60*100

"ahfen79" wrote:

Would like to calculate cost of time. Eg. Cost for production down time per
minute is $100. Says production doen for 3.5 hrs, what is formula shall I
apply in order to generate the cost (in $$).

How do I convert time (hh:mm) to value ($$) in Excel?
 

=(3.5/24)*60*100



--
Regards
Dave Hawley
www.ozgrid.com
"ahfen79" wrote in message
...
Would like to calculate cost of time. Eg. Cost for production down time
per
minute is $100. Says production doen for 3.5 hrs, what is formula shall I
apply in order to generate the cost (in $$).

How do I convert time (hh:mm) to value ($$) in Excel?
 

The formula needs to know for sure how you have your time entered. The title
indicates hh:mm, but you use 3.5 in the description.

One given: down time costs $100 per MINUTE.

If your down time is expressed as a decimal as 3.5 hours (210 minutes) then
=3.5 * 60 * 100
will give you $21,000 cost

But if your time is in hh:mm as 3:30 (3 hours, 30 minutes = 210 minutes) then
=time * 60 * 24 * 100
For example: the start of the down time is in A3 as 13:00 (1 p.m.) and the
end of the down time is in B3 as 16:30 (4:30 p.m.) a formula of B3-A3 would
show 3:30
so your formula for cost of down time would look like:
=(B3-A3)*24*60*100
Of course you could have the cost in a cell, such as A1 and the formula
could be written as
=(B3-A3)*24*60*A1
Be sure and format the cell with the formula in it properly; I'd recommend
either Currency or Accounting format.



"ahfen79" wrote:

Would like to calculate cost of time. Eg. Cost for production down time per
minute is $100. Says production doen for 3.5 hrs, what is formula shall I
apply in order to generate the cost (in $$).