To calculate the volume of a cone, the standard formula of 1/3*π*r²*h is applicable, even for non-standard cones. It's crucial to ensure that the units used yield cubic measurements (m³) for volume, rather than squared units (m²) associated with surface area. The discussion clarifies that substituting the radius squared and height into the formula will provide the correct volume. The participants confirm that the typical cone equation is valid regardless of the cone's shape. Understanding the proper application of the formula is essential for accurate calculations.