help writing formula to determine salary/overtime

[sockmodel7]

Alright, here's the deal, the wonderful people at my college bookstore
didn't manage to get my textbook in until 1 1/2 weeks left in the
semester and I need some help putting together a formula in Excel 2003
for the final that will determine the salary of multiple employees, at
different hours, pay per hour and overtime.

i.e.
employee 1: 40 hours at $9
emp. 2: 48 at 10
emp. 3: 42 at $8
emp. 4: 44 at $9.50

All hours after 40 hours are time and a half. If someone could help
construct a formula for this it would be hugely appreciated because my
efforts to do so have only resulted in profanity.

We'll also have to determine pay after 8% taxes, so I'm assuming that
can be done with a forumla sum=gross pay*8% followed by the auto sum
feature for all columns in that field?

 

[JE McGimpsey]

....and there wasn't a single copy that could be borrowed anywhere?

Take a look here:

http://cpearson.com/excel/overtime.htm

 

[Roger Govier]

Hi

One way
With Hours worked in A1 and Rate per hour in B1, enter in C1
=MIN(40,A1)*B1+MAX(0,A1-40)*B1*1.5
For Taxes, in D1 enter
=C1*8%

I think you should be able to work the rest out from there.

Regards

Roger Govier