The volume of a rectangular prism is length * width * height.
Since the dimensions of the cut out square are unknown, they have an edge length of x.
The original length (14 cm) reduces by x on the left, and another on the right. So L = 14 - 2x.
The original width (8cm) is reduced by x on the front and the back. So W = 8 - 2x
The original height was zero, since sheet metal is flat. When the x by x squares were cut out, the corners, four "flaps" were produced. These larger of these flaps were rectangles with dimensions x and 14 - 2x, and the smaller had dimensions x and 8 - 2x. When these flaps were folded upward, the shape took on a third dimension of height, with a value x.
So V =L*W*H
Or V = (14-2x)(8-2x)x