HELP with calculating hourly and overtime rate based on performance

Need help... trying to set a formula and calculate hourly and overtime rate based on performance.
Every week is different (based on performance) so hourly rate will change.. Thank you!

Example 1:
WEEK 1 -- $700 with 42 hours
A1: 700
B1: 40 (regular hours)
C1: 2 (overtime)
D1: ____ ?? need regular rate
E1: ____ ?? need overtime rate

Example 1:
WEEK 1 -- $700 with 46 hours
A1: 700
B1: 40 (regular hours)
C1: 6 (overtime)
D1: ____ ?? need regular rate
E1: ____ ?? need overtime rate

Unless I'm missing something there is not enough information to to determine both regular and overtime rates.
For the first of the two examples regular rate could be $16/hr and OT $30/hr. Or equally $15/hr regular and $50/hr OT, or an infinite number of other combinations that fit the equation OT-rate = 350 - 20 * regular-rate

What am I missing?

Hi there,
Sorry, here is the full story. Paying is based by piece (1.40 per piece). So if an employee makes 500 pieces a week x 1.40=$700 is the gross salary
By law you need to keep truck of employees hours and when there is no over-time the formula is easy... $700/40 hours = $17.50 per hour (or $700/35 hrs = $20 per hour)

OVER-TIME is the problem... $700/42 hours = $16.67 per regular rate -- OT $16.67*1.5=$25 per over-time rate
40*16.67=666.67 regular rate
2*25=50 over-time rate
TOTAL Comes to $716.67 instead of $700 gross

What formula can I use to get to the $700 when over-time is involve?
Thanks a lot

Ah - so I think the missing piece of info was that OT_rate = 1.5*std_rate

So: std_rate = 700/(40 + 2*1.5) $/hr = $16.28/hr
OT_rate = std_rate*1.5 = $24.41/hr

So in D1:

Formula:

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And in E1:

Formula:

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You are a genius!! Thank you very very much! It works perfectly!
Have a great weekend and God Bless you and your family!

Glad to help and thanks for the feedback!