While you may not be aware of Excel's SUMPRODUCT function, those in the know often use it for its stated purpose: multiplying two ranges together and then summing the total.
As shown in Figure 1, a single formula using SUMPRODUCT can replace the eight formulas listed in Cells D2 through D9. The SUMPRODUCT function multiplies the values in Column B by the values in Column C on a row-by-row basis, and then sums the total.
Although this is helpful, you might not be aware that SUMPRODUCT also can function like VLOOKUP or SUMIF on steroids.
About David Ringstrom, CPA
David H. Ringstrom, CPA, is an author and nationally recognized instructor who teaches scores of webinars each year. His Excel courses are based on over 25 years of consulting and teaching experience. His mantra is “Either you work Excel, or it works you.” David offers spreadsheet and database consulting services nationwide.