I'm a salaried employee, ?how to calculate actual rate of pay

[Guest]

I am on salary (weekly) but always work alot more than 40 hrs per week.
How can I make a spreadsheet that will calculate my rate of pay on a weekly
basis, by me typing in the hours worked per week(ex; 40 reg + 20 overtime)

Please Help,

Thanks in advance.

 

[Guest]

Hi
Just say your O/T is at double time.
Try this formula =(A1-40)*A3+(40*A3/2)

with your total hours in A1 and your double time payrate in A3

HTH
Michael M

 

[Guest]

thx,
here is more needed data.
hours per wk fluctuate from 45-65, therefore I do not have an o/t rate.
and all my o/t needs to be calculated at time and a half, not double.
Can you help?

Thanks again.

 

[Guest]

OK

TRy =(A1-40)*A3+(40*A3*.666666)

with your total hours in A1 and your time and half payrate in A3
This obviously puts all of pay result into the one location

Regards
Michael M

 

[Guest]

I handle payroll for 50 employees. I set up a spreadsheet that handles this
for me giving me a way to double check the info entered into the payroll
system before I process.

In Row 1 Set up the following columns: Column A-Name; Column B-Reg Hours;
Column C-OT Hrs; Column D- Rate of Pay; Column E- Reg Total; Column F-OT
Total; Column G-Gross
If you want you can change the Name column to date so that it becomes a
database of hours worked on a per pay period basis.
You will manually enter the weekly info into columns A-C.
Starting the first week in row 2 do the following:
In Column D enter your current rate of pay.
Column E formula =B2*D2
Column F formula =sum(C2*D2)*1.5 for time and a half or ...)*2 for double
time
Column G formula =E2+F2
To have a database on a week by week basis you can copy columns D-G down
several rows and just enter columns A-C weekly.
Hope this helps

 

[Guest]

thx again,
unfortunatelly this only solves the problem with the time and a half formula.
However the ? still remains since I have no set o/t rate per say.
Example: wkly pay is always $600, hours worked is always different from wk
to wk
I am looking for a formula that will actually tell me on a wk by wk basis
what exactly is my hourly rate is, taking into account all o/t hours worked.
And keeping in mind that my weekly salary is always $600.

SORRY FOR THE CONFUSION.

 

[MartinW]

Hi help in CA,

Try this formula in B1 =600/(((A1-40)*1.5)+40) and format
it to 2 decimal places.

In A1 put your total hours say 65 which gives you an effective
payrate for that week of $7.74 per hour.

HTH
Martin

 

[Guest]

I'm confused - you're saying that regardless of how many hours you work, your
pay is always $600
If so then:
HRS PAY HRLY RATE =PAY/HRS
65 600 9.230769231
45 600 13.33333333
27 600 22.22222222
53 600 11.32075472

Is that what you're looking for??

 

[Biff]

Just because I'm a nit picker.....

If they work <40 hrs the formula crashes.

Biff

 

[Guest]

Martin,
Thank You very ,very much for your help, this was exactly the answer I was
looking for.

Many Thanks,

 

[Guest]

Thank you,
This is very useful for hourly employees, unfortunatelly I am salaried.
fyi, I have the answer now.
Thanks again.

 

[MartinW]

True Biff, but I don't think the OP is too concerned about working
less hours. He just wants to know how much his boss is screwing
him for when he works overtime!! ;-)

Regards
Martin

 

[MartinW]

Glad I could help.

Regards
Martin

 

[SteveW]

Yes, because he is salaried.

Steve

I'm confused - you're saying that regardless of how many hours you work,
your
pay is always $600
If so then:
HRS PAY HRLY RATE =PAY/HRS
65 600 9.230769231
45 600 13.33333333
27 600 22.22222222
53 600 11.32075472

Is that what you're looking for??

 

[Biff]

He just wants to know how much his boss is screwing

him for when he works overtime!! ;-)

Yeah, those 65 hr weeks look dismal!

I'd be looking for another job!

Biff

 

[Guest]

Take your Annual salary (A1) and divide it by 2080 manhours. This will give
you your rate of pay hourly (A2).

Take your Hourly pay rate (A2) and multiple that by 1.50 this will give you
your of pay per overtime hour (A3).

Make 2 columns for each week ending pay period (Sunday). One coumn for your
regualr hours and the other for your overtime hours.

Multiply your overtime (A3) pay rate times the overtime hour you work will
give you the amount of gross pay your missing out on.

 

[gls858]

Martin,
Thank You very ,very much for your help, this was exactly the answer I was
looking for.

Many Thanks,

You might want to check this link. There are certain requirements that
an employee must meet to be exempt from overtime. You may meet the
requirements but then again maybe not. You might just be getting a
raw deal.

http://www.ehso.com/cssdol/dolsalariedexempt.php


gls858

 

[Ragdyer]

But what happens if he leaves early for a school meeting with his kids
teachers, or he's feeling "not so well", and takes a half day off, or
doesn't come in at all?

Is his pay *reduced* by hours missed?
That we don't know!

Two sides to every coin.<g>

 

[Guest]

Although I appreciate your concern, maybe I should tell you that weekly
salary is actually twice the disclosed amount.

regards,
help in CA

 

[Biff]

Although I appreciate your concern, maybe I should tell you that weekly
salary is actually twice the disclosed amount.

I'd still be looking for another job! <bg>

I used to have a job like that. 10 - ?? hrs a day.

I told the "boss": F.U. pal, pay me for my time or I'm outta here!

"He" paid me! <VVBG>

Biff