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Formula Explainer: Break It Down Step by Step

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Understand a complicated formula you inherited.

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Explain a formula I inherited. App: [SPREADSHEET_APP]. The formula: [PASTE_FORMULA]. What the workbook is for: [WORKBOOK_PURPOSE]. Example inputs: [EXAMPLE_INPUTS].

Use this explanation style.
Formula: =IFERROR(INDEX(Prices!C:C, MATCH(A2&B2, Prices!A:A&Prices!B:B, 0)), 0)
Step 1: A2&B2 joins the product and size into one key, for example "Shirt" & "M" = "ShirtM".
Step 2: Prices!A:A&Prices!B:B builds the same key for every row of the price table (this needs array evaluation).
Step 3: MATCH finds the position of the key in that list; 0 means exact match.
Step 4: INDEX returns the price from column C at that position.
Step 5: IFERROR returns 0 if no match exists. Risk: a missing price silently becomes 0.

For my formula, provide: a plain-language summary in one sentence; the step-by-step breakdown with intermediate values for my example inputs; a diagram of the order of evaluation in text; assumptions the formula makes (sorted data, unique keys, specific layout); risks and failure cases; a rewritten, easier-to-read version (with LET or helper columns); and a documentation comment I can put next to the cell. Ask clarifying questions if anything is ambiguous.

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