How does one do a simple function to multiply a time (in hours:minutes i.e.
[hh]:mm) by a cost per hour (i.e. $60/hour).

If I have the time in one column, and the rate per hour in another column, I
need the total to be the total cost (i.e. 10:50 times $60 = sum??? should
equal $650.00 but I can't get the formula to work).