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TECHNOLOGY Q&A

Now we have a new built-in function in our like this: =CostPerUnit(B2,C2) or =CostPerUnit([@
Excel workbook called CostPerUnit that we can [Total Cost]],[@Quantity]), if your data is contained
call anytime we like. We can use it the same as any in a table. See the screenshot below for the resulting
other built-in Excel function. The custom function values of the new function we created.
will be available only in the workbook where it was I have created a workbook with an example of
created, not in all of your Excel workbooks. Let’s using LAMBDA. You can access the workbook and
put our cursor back in cell D2, the first row where accompanying video with the online version of this
we want to calculate our Cost Per Unit (see the article at journalofaccountancy.com.
screenshot at the bottom of page 38). Type =Cost- I recommend you create custom functions that
PerUnit. You see it’s listed among the other built-in can replicate the more complicated formulas that
functions now. Select it and define the parameters. you routinely use. Work smart!
The first parameter is cell B2, and the second — By Kelly L. Williams, CPA, Ph.D.
parameter is cell C2. The final formula should look

40 | Journal of Accountancy May 2022