The Collaborative International Dictionary of English v.0.48:

Formulate \For"mu*late\, v. t. [imp. & p. p. Formulated; p.
   pr. & vb. n. Formulating.]
   To reduce to, or express in, a formula; to put in a clear and
   definite form of statement or expression. --G. P. Marsh.
   [1913 Webster]