Is .FormulaArray limited to Range?

[skulakowski]

Dim i, n As Integer  
i=1
n=1
Dim X(0 To 10, 0 To 15) As Variant  
dim ArrayCalc as String
dim Qtr as string
Qtr = "2005Q3"
dim Up as string
Up = "201001"
ArrayCalc = "=SumProduct( If (Quarters= " & Qtr & ",1,0), If (UpdateMonth= " & Up & ",1,0), Data)" 
X(i,n).formulaarray = ArrayCalc