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Multiplying total hours worked by pay rate to get total monthly pay

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    Multiplying total hours worked by pay rate to get total monthly pay

    I have created a simple times sheet. When I multiply the total number of hours worked by the pay rate it for some reason treats the pay rate as a rate for 24 hours, ie. if its 36 hours multiplied by $10 it gives me $15 as the answer, when of course it should be $360.

    Now, I can solve it by multiplying the result by 24, but can someone please explain why this is happening and what mistake I might be making?
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    Last edited by jonorose; 05-03-2010 at 11:50 AM. Reason: I added the file

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    Re: Multiplying total hours worked by pay rate to get total monthly pay

    Quote Originally Posted by jonorose View Post
    I have created a simple times sheet. When I multiply the total number of hours worked by the pay rate it for some reason treats the pay rate as a rate for 24 hours, ie. if its 36 hours multiplied by $10 it gives me $15 as the answer, when of course it should be $360.

    Now, I can solve it by multiplying the result by 24, but can someone please explain why this is happening and what mistake I might be making?
    Could you add the excel file?

    (looks like a formatting issue..)

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    Re: Multiplying total hours worked by pay rate to get total monthly pay

    hours are 1/24th of a day to get a decimal from excels time serial(as i assume you are using real times) you multiply by 24 and format as general as you have discovered for yourself eg 11:30 *24 becomes 11.5 which you can then use to calculate pay
    Last edited by martindwilson; 05-03-2010 at 11:08 AM.
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    Re: Multiplying total hours worked by pay rate to get total monthly pay

    Люди, питающие благие намерения, как раз и становятся чудовищами.

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    Re: Multiplying total hours worked by pay rate to get total monthly pay

    Quote Originally Posted by martindwilson View Post
    hours are 1/24th of a day to get a decimal from excels time serial(as i assume you are using real times) you multiply by 24 and format as general as you have discovered for yourself eg 11:30 *24 becomes 11.5 which you can then use to calculate pay
    Ok great, thanks!
    That makes it easier to understand!

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    Re: Multiplying total hours worked by pay rate to get total monthly pay

    Quote Originally Posted by Jamie_vs View Post
    Could you add the excel file?

    (looks like a formatting issue..)
    Added the file

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    Re: Multiplying total hours worked by pay rate to get total monthly pay

    It does look like a formatting issue.

    All I can make up is a work around.. (like a price rate per day.. or total time worked *24 )

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