SUMIFS(...)
Sumif with 2 criteria for calculating sum
Used Functions
Category: Math and trigonometry
Adds the cells in a range that meet multiple criteria
Syntax
SUMIFS(sum_range, criteria_range1, criteria1, [criteria_range2, criteria2], ...)
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SUMIFS formula at Microsoft help
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The SUMIFS Formula takes as many as 127 arguments for criteria and lookup range making it easy to sum against multiple criteria. It follows with criteria range and criteria respectively, giving the sum following all the conditions mentioned.