Calculating Reg Pay and OT Pay

[KellyP]

I need help with a formula...if it's possible.

I need to determine hourly rate of pay based on the following known variables:
Daily pay rate
Number of regular hours
Number of OT hours.

My formula needs to calculate hourly rate of pay.

For example:

John gets paid $130/day. This week he worked 5 days. Total pay is $650.
He worked 40 hours on regular pay and 15 hours of overtime pay.
Based on the fact that overtime is 1.5 times the regular hourly pay how do I calculate the hourly pay using an excel formula?

HELP!

[FDibbins]

not sure how you arrived at $650, but assuming your name is A, Reg hours in B Reg pay in C OT hours in D total pay in E...

=B2*C2+D2*C2*1.5

[Ace_XL]

Hourly pay rate would be 10.4 calculated as below

=650/(40+(15*1.5))

Is this what you are after?

[KellyP]

Ace_XL That is it exactly! Thank you. I plugged that into my spreadsheet plugged in the appropriate cells and viola, it's a beautiful thing! Thank you so much.

[Cutter]

@ KellyP

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Thanks.

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