In older versions of Word this appears as the Layout. To add the formula in the Word table do the following. In its wisdom Word makes an educated guess about what you want the formula to do and places a formula in the Formula box.
Choose your paste formatting.
The copy-and-paste method is faster but some formatting may change and some table functionality may be lost. In Word you can do other calculations in table such as average production and so on. Depending on the size of your screen you may have to click the Data button first. Click on the Insert tab and then click on Table.