Using UDFs in formula

When I try to use a UDF for consumable/permanent resource in the formula , I get an error message saying - "The formula refers to a UDF or UDT that does not exist . ." in the status bar of the formula dailog.

But the UDF exists and I am able to enter the values of the UDF in the library explorer/spreadsheet. Also the UDF is in the dropdown list of fields in the formula dailog.

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