Calculating Cost of Hours Worked

I know this probably has to be an 'if' statement, but just can't get it worked out.
What I have is a Row of hours worked per week and need to calculate the cost @ $50. / hour and 1.5x ($75) for hours over 40 hours in the week.

A B C D E
60 10 48 56.5 15

The formula I used =SUM(A1*50)+((A1-40)*25)

Works fine if hours are over 40, but doesn't work for those weeks under 40.
Any help would be appreciated!

Excellent - Thanks for the quick response!!