Calculating time and pay rates

  • Thread starter Thread starter Django Cat
  • Start date Start date
D

Django Cat

On a project timekeeping spreadsheet, I have an accumulating 'hours
worked' field formatted as [hh]:mm. I'd like to be able to multiply
this by an hourly pay rate to show money earned so far, and then
display this with currancy format.

Any help with an easy way of doing this much appreciated.

DC
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=time_cell*24*pay_rate

and just format as currency through Format>Cells menu

--
---
HTH

Bob


(there's no email, no snail mail, but somewhere should be gmail in my addy)
 
Thanks Bob, that works! I'm not sure I understand the logic of *why*
it works, but it does!

DC
=time_cell*24*pay_rate

and just format as currency through Format>Cells menu

--
---
HTH

Bob


(there's no email, no snail mail, but somewhere should be gmail in my
addy)



Django Cat said:
On a project timekeeping spreadsheet, I have an accumulating 'hours
worked' field formatted as [hh]:mm. I'd like to be able to multiply
this by an hourly pay rate to show money earned so far, and then
display this with currancy format.

Any help with an easy way of doing this much appreciated.

DC
--
Click to expand...
Click to expand...



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It is because time is held as a fraction of 1 day, so 12:00 is held as 0.5,
8.00 AM is 0.3333, etc. So to get the decimal number of hours,you multiply
by 24 (.5*24 = 12, .33333*24 is 8 and so on). You can then multiply that by
the pay rate.

--
---
HTH

Bob


(there's no email, no snail mail, but somewhere should be gmail in my addy)



Django Cat said:
Thanks Bob, that works! I'm not sure I understand the logic of *why*
it works, but it does!

DC
=time_cell*24*pay_rate

and just format as currency through Format>Cells menu

--
---
HTH

Bob


(there's no email, no snail mail, but somewhere should be gmail in my
addy)



Django Cat said:
On a project timekeeping spreadsheet, I have an accumulating 'hours
worked' field formatted as [hh]:mm. I'd like to be able to multiply
this by an hourly pay rate to show money earned so far, and then
display this with currancy format.

Any help with an easy way of doing this much appreciated.

DC
--
Click to expand...
Click to expand...
Click to expand...
 
Bob said:
It is because time is held as a fraction of 1 day, so 12:00 is held
as 0.5, 8.00 AM is 0.3333, etc. So to get the decimal number of
hours,you multiply by 24 (.5*24 = 12, .33333*24 is 8 and so on). You
can then multiply that by the pay rate.
Click to expand...

OK, you live and learn! Thanks again.

DC

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