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Overhead value represents the total overhead

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Reference no: EM132035469

This is the formula I came up with, but excel isn't accepting it. I just need to know what Im doing wrong.

=IF([location]="economy",50,75)*[NumCars]

Please show me the correct IF formula for excel 2016, for the following prompt;

Overhead costs include maintenance, cleaning, and administrative expenses associated with a car rental. The Overhead for one rental transaction is $50 for an economy car and $75 for a premium car. This Overhead cost includes maintenance, cleaning, and administrative costs for each car rental. a. With this information, in the Profit Analysis worksheet, in the first cell under the Overhead label, calculate the overhead that corresponds to the number of cars rented (NumCars) using an "IF" statement as part of the formula. b. For clarification, use the "IF" statement to determine whether to use $50 or $75 times the NumCars so that the Overhead value represents the total Overhead costs for the Number of Cars (NumCars) rented in a given row.

Reference no: EM132035469

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