How to total an amount column based on selection of drop down in another column

I need to put a sum of the "Amount" column, in the "Forecasted Total" column when the drop down selection is equal to Forecasted in the Forecasted/Commited column. Will also do same for committed amounts   and then will need to use those Totals to find the difference to the Budget.

I have tried

=SUM(IF([Forecasted/Committed]=Forecasted),[Amount])