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Formula to calculate Cost of Goods

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Simone_Nabholz
4 - Data Explorer
4 - Data Explorer

I want to create a table to calculate my cost of goods, for products that I make.

I have a table with the list of products and their RRP.
Another table with a list of expenses, ie labour cost, packaging cost, materials cost etc

I want to have a third table that takes (product RRP) - (total costs) = profit
For example (candle $59) - (wax $2, vessel $5, packaging $3, labour $10) = $39

I’m very new to tables and formulas, so it may be easy and obvious. Any help would be appreciated!

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Accepted Solutions
Databaser
12 - Earth
12 - Earth

Hi @Simone_Nabholz and welcome back to the community!

Are these fixed prices? If yes, you could work with a field that links to 1 or multiple expenses and then use a rollup field to make the sum. U could then do the same for your products, or, if there’s only 1 product with a fixed price, use a lookup field for the “product RRP”.

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2 Replies 2
Databaser
12 - Earth
12 - Earth

Hi @Simone_Nabholz and welcome back to the community!

Are these fixed prices? If yes, you could work with a field that links to 1 or multiple expenses and then use a rollup field to make the sum. U could then do the same for your products, or, if there’s only 1 product with a fixed price, use a lookup field for the “product RRP”.

Simone_Nabholz
4 - Data Explorer
4 - Data Explorer

Thank you, I’ll give that a go!