Calculating Hourly Rate

  • Thread starter Thread starter Railrd
  • Start date Start date
R

Railrd

In column "B" I have the amount someone is paid for a job. In column "C" I
have how many hours they worked on that particular job. In column "D" I
would like to display how much they got paid per hour. I have tried several
different ways but get the wrong answer or an error message.
 
Hi

Select cell D1.

Type:

=B1/C1

and hit the Enter button of your keyboard. Does the result make sense now?

(of course, if your numbers are not in row 1 but elsewhere, then you should
change the 1's in my formula.)
 
This does not give the correct answer

Wigi said:
Hi

Select cell D1.

Type:

=B1/C1

and hit the Enter button of your keyboard. Does the result make sense now?

(of course, if your numbers are not in row 1 but elsewhere, then you should
change the 1's in my formula.)
Click to expand...
 
That is not true.

(If you give so few information in your post, then I can't say more than
this).
 
If the hours are entered as "real" Excel times, then you need to multiply them by 24 to get correct results from your division,
and you'll have to format them as numbers, not as time (which Excel does automatically)

=B1/(C1*24)

--
Kind regards,

Niek Otten
Microsoft MVP - Excel



| In column "B" I have the amount someone is paid for a job. In column "C" I
| have how many hours they worked on that particular job. In column "D" I
| would like to display how much they got paid per hour. I have tried several
| different ways but get the wrong answer or an error message.
 
It works but it all depends on if the hours are in time format like 4:30 for
4.5 hours, if so use

=B1/(C1*24)

and format as currency


or better


=ROUND(B1/(C1*24),2)

rounded to the nearest penny



if the hours are decimals like 4 or 5 then it should work



--


Regards,


Peo Sjoblom
 
I'm sorry. In column B for example the person was paid $346.83 (cell
formated in Accounting with two places after decimal point) and in column C
for example is 5:43 (cell formated in Time with the option of 13:30 format
selected). I'm using Excel 2007. Wigi when I tried the way you suggested it
gives me a larger dollar amount (takes hours as a fraction of day) but when
multiplied it still gives the wrong answer. Sorry for the confusion.
 
You are high in the list of nominations for the most unhelpful response in
the group this month. Saying merely "This does not give the correct answer"
does not give the contributors to the group (who are very willing to help) a
great deal of chance to help you, particularly when the answer you were
given is the correct answer to the question you asked.

If you really do want help, you'll have to give more information, as there
is a limit to the clairvoyant powers of even the brightest experts in the
group. Why not start with things like:
What values you have in B1 and in C1, what value you got from the suggested
formula in D1, and what answer you expected?

One specific question is about column C. Are you sure that it contains "how
many hours they worked on that particular job"? If it is not a number of
hours, but a time in Excel format, then you will need a factor of 24 in your
formula.
 
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