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Hourly & Overtime wage formula needed

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    Hourly & Overtime wage formula needed

    As of 1/1/2014, a new law for our industry will require us to pay overtime wages (time and a half) for any hours that are worked over 9 in a day. We also will need to break down the pay rate for each hour worked.

    When this takes effect, we want to pay our employees the same flat rate that they are currently making. For example, we pay currently pay an employee $144 for 12 hours of work ($12 per hour). When the new law goes into effect, we want to continue to pay the employee $144, 9 of which will be be at a regular rate and 3 hour at an OT rate.

    I need a formula that allows me to enter:

    1. Total pay amount ($144)
    2. Number of regular hours (9)
    3. Number of overtime hours (3)

    And it will calculate what the regular pay rate is for hours 1-9 AND what the OT pay rate is for hours 10-12.

  2. #2
    Valued Forum Contributor Melvinrobb's Avatar
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    Re: Hourly & Overtime wage formula needed

    If
    B3=Total Pay amount
    C3=Regular Hours
    D3=Overtime Hours,

    This formula will give you the regular pay rate:
    Formula: copy to clipboard
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    This formula will give you the OT pay rate:
    Formula: copy to clipboard
    Please Login or Register  to view this content.
    Please click the * icon below if I have helped.

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