Fuel cost formula?

I’m looking for the excel formula to calculate the cost of fuel for a trip.

I know it exists but I can’t find it. It needs to calculate the cost of fuel used for a particular leg or flight when the trip used a combination of fuel from multiple uploads at different prices.

Example: We just completed a trip that used 500 gallons of fuel. Prior to the trip we uploaded 300 gallons at $5/gal. on top of 400 gallons that were still in the plane from the fueling before that one at $6/gal. Therefore, the 500 gallon trip we just made used 300 gallons of fuel at $5/gal. and 200 gallons that were still in the plane prior to the most recent fueling at $6/gal. The formula will also have to account for the cost of any fuel that may have still been in the plane from maybe up to 3 previous fueling. An average isn’t good enough, it needs to calculate the exact cost of fuel used.

Anyone know where to find the formula?

You will need to have the gallons in one column (A) and rate in another (B). Multiply those together in the third column (C). Then use :

=SUM(C2:C10)

This will get the total of cost for the trip.

Attach a sample workbook (not image).

Make sure there is just enough data to demonstrate your need. Include a BEFORE sheet and an AFTER sheet in the workbook if needed to show the process you're trying to complete or automate.

Make sure your desired results are shown, mock them up manually if necessary.

Remember to desensitize the data.

Click on GO ADVANCED and then scroll down to Manage Attachments to open the upload window.

Why is the 500 gallons not 400 at $6 and 100 at $5 ???

Have a look at this link on FIFO inventory. It may help point you in the right direction.
http://pakaccountants.com/fifo-costi...l-data-tables/
If not, do as mentioned in post #3 and attach a workbook that shows your expected results.

BSB

See attached (From www.Costviewer.com)

I added data to represent fuel purchased and fuel used.

"Usage Value" column J is the fuel cost per trip.

Thanks for all the info...I think I figured it out but I'm too stupid to know how to post it here for you guys to see.

This is essentially what I built into the spreadsheet....If you had $1,500 of fuel (300 gal x $5/gal) and then added it to $2,400 of fuel (400 gal x $6/gal), then the average cost of the fuel in your tank is $5.57/gal. ($3,900/700).

The cost of your 500 gal trip is $2,786 (500 gal x $5.57/gal).

An average isn’t good enough, it needs to calculate the exact cost of fuel used.

... yet this is what you have done.

Put your data in the FIFO w/book (post #7) and you will the TRUE costs.