# How to Create a Cost Estimation Sheet in Excel

### Step 1 – Prepare Your Dataset

• Create a concise dataset containing approximately 11 rows and 6 columns.
• Keep all cells in the General format and use the Accounting format for monetary values.
• The dataset should have 6 unique columns: Project Stages, Estimated Hours, Developers, Analyst, Other Costs, and Total Cost. You can adjust the number of columns as needed.

### Step 2 – Create the Base Excel Data Sheet

• Create an empty dataset, similar to the one shown in the image below.

### Step 3 – Insert Necessary Data Values

• Populate the Estimated Hours, Developers, Analyst, Other Costs, and Total Cost columns with the relevant values.

• In cell D15, enter the following formula:
`=SUM(D6:D14)`
• Press Enter to calculate the total Estimated Hours using the SUM function.

• In cell E15, enter this formula:
`=SUM(E6:E14)`
• Press Enter.
• Repeat the process for cell G15.

### Step 4 – Calculate the Total Cost

• In cell I15, insert the formula:
`=SUM(I6:I14)`
• Confirm by pressing Enter.
• For the cost calculation, enter the following formula in cell J6:
`=(D6*E6*F6)+(D6*G6*H6)`
• Press Enter and copy this formula down using the Fill Handle.

• In cell J15, enter:
`=SUM(J6:J14)`
• Press Enter to find the final total cost.

## Create a Cost Estimation Sheet for Building Construction in Excel

### Step 1 – Prepare Your Dataset

• Create a basic dataset with the following columns: Particular, Quantity, Rate, and Amount. Refer to the image below for reference.

### Step 2 – Calculate Total Amount

• In cell E5, enter the formula:
`=C5*D5`
• Press Enter and copy this formula down to cell E9.

• In cell E10, enter the formula:
`=SUM(E5:E9)`
• Press Enter.

### Step 3 – Create a Bill of Quantity Dataset

• Set up a Bill of Quantity dataset (similar to the image provided).

• In cell F5, insert the formula:
`=D5*E5`
• Press Enter and copy it to cell F7 using the Fill Handle.

• In cell F8, enter the formula:
`=SUM(F5:F7)`
• Press Enter.

• In cell F9, enter:
`=D9*E9`
• Press Enter and drag the Fill Handle to other cells.

• In cell F12, calculate the total labor cost:
`=SUM(F9:F11)`
• Press Enter.

### Step 4 – Evaluate Total Material & Labor Cost

• In cell F13, enter:
`=F8+F12`
• Press Enter.

### Step 5 – Create a Summary Data Table

• Set up a simple summary data table (similar to the image provided).

• In cell C5, reference the labor cost from the Bill of Quantity sheet:
`='Bill of Quantity'!F8`
• Press Enter.

• In cell C6, get the labor cost value:
`='Bill of Quantity'!F12`
• Press Enter.

• In cell C8, calculate the grand total:
`=SUM(C5:C7)`
• Press Enter.

By following these steps, you can quickly create a cost estimation sheet for building construction or similar projects in Excel.

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Nazmul Hossain Shovon

Nazmul Hossain Shovon, a BUET graduate in Naval Architecture and Marine Engineering, embarked on his career with 8 months dedicated to the Exceldemy project's triumph. Transitioning into a Software Developer role, he specialized in web add-in development. At Exceldemy, he authored about 125 blog articles and solved many visitors’ problems, refining his writing skills and delving into Excel-related topics. With a primary passion for programming and software development, Shovon continually explores new horizons, fostering professional growth in his... Read Full Bio

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