Calculating Cost Per Minute


R

Ryan F

I know how to do this mathematically, obviously.

But here is what i am talking about:

We are calculating a cost per unit during repair.

In column "G" is "START TIME"
In column "H" is "STOP TIME"
Column "I" is used for "TOTAL TIME"
Column "J" is where I want the labor cost of fixing any specific unit.

We are using the "labor cost" as a figure of $16/hr which comes out to $.27
per minute.

Our techs aren't the brightest people in the world so I have the start and
stop time set up like 14:40 then ending at 15:10 - in the "total time" column
it comes out as 0:30 which then I have the equation =(I1*.27) for some reason
it won't convert :30 to just 30 minutes.

Sorry if I am confusing anyone...

I need to convert the times into minutes.

My total time formula is

H1-G1 and it gives me 0:30 which I then need converted to minutes to
multiply by .27

STOP TIME - START TIME = TOTAL TIME TAKEN *.27
 
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G

Glenn

Ryan said:
I know how to do this mathematically, obviously.

But here is what i am talking about:

We are calculating a cost per unit during repair.

In column "G" is "START TIME"
In column "H" is "STOP TIME"
Column "I" is used for "TOTAL TIME"
Column "J" is where I want the labor cost of fixing any specific unit.

We are using the "labor cost" as a figure of $16/hr which comes out to $.27
per minute.

Our techs aren't the brightest people in the world so I have the start and
stop time set up like 14:40 then ending at 15:10 - in the "total time" column
it comes out as 0:30 which then I have the equation =(I1*.27) for some reason
it won't convert :30 to just 30 minutes.

Sorry if I am confusing anyone...

I need to convert the times into minutes.

My total time formula is

H1-G1 and it gives me 0:30 which I then need converted to minutes to
multiply by .27

STOP TIME - START TIME = TOTAL TIME TAKEN *.27


=I1*1440*.27
 
S

Steve

Hey Ryan
try dividing total time (Col I) by 1440 (minutes in a day) and then
multiplying.

HTH
Steve
 
R

Ryan F

Thanks so much for all the help! Can't believe I overlooked that, coffee
wearing off.

TGIF

Have a great weekend and thanks a bunch to both of you!
 
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