Yes and no.
No, you can’t have a formula that only operates in a single field of a single record, and doesn’t run at all in the same field for other records. A formula field runs its calculations for all records.
However, you can design the formula to only run the main calculation(s) when a specific condition is met, and then only trigger that condition in a specific record. For example, the formula could be something like this:
IF(Name="Total", [the rest of your formula here])
Only on the record where the {Name} field is set to “Total” would the main part do its thing. On all other records, it would leave the field blank. I haven’t used this technique very often, but it has come in handy on a couple occasions.
