Multiplication Question

Hello All!
I figure there must be a way to do this, but for the life of me, I cannot figure it out. Perhaps it's a case where I am just not calling it the right name, so I cannot find help in Excel Help.

Here's the set up:

I have one column that shows the length of a Web based training (WBT) course in hours (or fraction of an hour). I have another column that lists the level of interaction for the WBT, and it's either 1, 2, or 3. What I want to do is have a third column that displays the budget. The budget is the length of the course mutiplied by a cost factor. The cost factor varies depending upon whether the interaction is 1, 2, or 3.

WHat would be a formula that would look at the interaction level column, determine if it's a 1, 2, or 3 displayed there, and then multiply the length column by a corresponding cost (I could either hard code the costs in the formulas, or, even better, place those on another sheet where they could be modified easily).

I tired doing this with SUMIF and IF conditions, but I couldn't make it work in one formula. Would any of you have done this before and have a formula you can share?

Thanks in advance!

Bronson - Marietta, GA