How can I set up a formula to multiply $ x hrs? i.e. 8:30 (8hr 30.

[Guest]

I am trying to create a formula that will multiply (on the 24:00 clock) hrs x
$.
i.e. A guy works from 8am until 5pm. I figured the formula to compute 8:00
(8 hr and 0 min's) but when I ask the 8 hrs to be multiplied x say $45.00 /
hr it comes up with the following: 8:00 x $45.00 = 15.(If I change the format
for the result to {H}:M then the result is 360:00.) The answer is 360 $ but
the dollor format = 15. and the hour format = 360:00 (with colons) !

Please help.

 

[Guest]

Excel understands times as being a fraction of 24 hours (i.e. 24:00 is equal
to a value 1 - 12:00 is 0.5 etc).

So if you have 8:00 in cell A1 that you want to multiply by $45, you should
multiply by 24 as well:

=A1*24*45

Set the cell format to currency (not time).

Hope this helps,

Basil