I have a custom list named “Employees" which has the following columns.

In this blog you will see how to set the calculated field formula using SharePoint Object Model.

Formula for FullName

=[LastName]&","&[FirstName]

Description

Combines the last name and first name separated by comma (Ramalingam, Vijai).

using System;
using System.Collections.Generic;
using System.Linq;
using System.Text;
using Microsoft.SharePoint; 

namespace CalculatedField
{
class Program
{
static void Main(string[] args)
{
using (SPSite site = new SPSite("http://shashankpc:2012/sites/test"))
{
using (SPWeb web = site.OpenWeb())
{
SPList list = web.Lists.TryGetList("Employees");
if (list != null)
{
SPFieldCalculated calculatedField = list.Fields.GetFieldByInternalName("FullName") as SPFieldCalculated;
calculatedField.Formula="=[LastName]&\",\"&[FirstName]";
calculatedField.Update();
}
}
}
}
}
}