It sure can, and in lots of different ways. There's just one thing I don't understand in your post: is the field in the underlying query called CostConv? Or is the control on the report called CostConv? And what's regular?
In any case, if you're summing in the report's query, let's say, you have a field called SumWithTax, which is the result of the calculation cost*overhead*tax. Then you can put in the footer control a control source of =Sum(SumWithTax). But if you're calculating in the control on the report, i.e. your control source reads something like
=[MyCost]*[MyOverhead]*[MyTaxes]
or however you're working it, then your sum needs to match it:
=Sum([MyCost]*[MyOverhead]*[MyTaxes])
I'm assuming that you've told it to sum the control, which is not quite the same thing; only controls' data can be totaled.
Otherwise, check out the RunningSum property in Access help, and so on, for other possibilities.
Hope this helps.