Calculating Overtime Over 40 Hours

Good Afternoon,

I am trying to create a spreadsheet that will calculate overtime hours per day. Towards the end of a long week the employee may work one day where they have 3 regular hours and 3 overtime hours. The next day all of the 4 hours would be overtime.

In the attached spreadsheet I cannot seem to figure out the formula to make that happen. It is giving me a running total of overtime hours and I just need the overtime hours for that day.

What I was trying to accomplish was
D7 equals 4 regular hours and E7 equals 5 overtime hours (which is correct)
D8 equals 0 regular hours and E8 equals 4 overtime hours
D9 equals 0 regular hours and E9 equals 0 overtime hours.

Any help is greatly appreciated.

=IF(C3=0,,MAX(SUM($C$3:C3)-40-SUM($E$2:E2),)) for overtime

Thanks tim201110 but where do the hours originate from? Everything is a formula and if you change the data in column C, the spreadsheet changes.

Again thank you for your help!

He just put a formula in there to generate random hours. You would put in whatever hours the employee worked. So you can delete everything in that column (from Mon-Sun), then enter your actual hours.

Beautiful! Thank you everybody for your help!!