First of all lets get some of formulas out of the way.
Voltage = Amps x Resistance (V=I xR)
Amps = Voltage / Resistance (I =V/R)
Resistance = Voltage / Amps (R= V/I)
Watts = Amps x Voltage (P = E X x I)
Power = the square of the Amperage x Resistance (P = I^2 x R)
Now we simply have to solve for what measurement we need.
What is the oven rated at (how many amps)?
Do you only have one element or multiple? Here's an example for you.
Say your oven is rated at 15 amps. 240 volts and you have only one element.
240 volts / 15 Amps = 16 Ohms of resistance per element. But if you have more than
one, you need to distribute the amperage equally for all. Example.
15 amps 240 volts and there are 4 elements.
15/4 =3.75 amps per element.
240 volts/ 3.75 amps = 64 Ohms of resistance for each element.
And yes, the multimeter should be able to read the resistance for you. Just make sure you have it set on the proper voltage for what you are checking. I hope this steers you in the right direction. Any additional information will be happily offered. Thank you for your question.
I'm sorry, I guess I misunderstood part of the question. You are just tesing to make sure the element is functioning. I think then, you are on the right track in your calculations. Sorry for the mix up. Sorry my equations are a little rusty as well.