Formula assistance

  • Thread starter Thread starter Raisincain
  • Start date Start date
R

Raisincain

Hello!

I have posted this question in the more appropriate formula assistance
forum, but since it seems infrequently visted compared to this forum, I
thought maybe someone here could offer some advice.

I have several employees that work for me at $7.00 per hour. They want to
work more hours per week at this same wage, but I am unable to afford
overtime for them.

Department of labor laws state that every hour over 40 per week must be paid
at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay
to enable me to pay them whatever amount is necessary if, when overtime is
applied, they average out to $7.00 per hour. In other words, they are
willing to work for 40 hours per week at x amount and a variable number of
hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour.

This number x will change with each schedule since they will work a
different number of hours per schedule (ie an employee may work 55 hours in
week one, 50 hours in week two, 60 hours in week three, and so on). Can
anyone help with a formula that will solve for x based on these changing
hours with the average rate of pay still staying at or around $7.00 per hour?

Thank you,
Brad in Dallas
 
Hi

With Hours actually worked in A1, Standard price per hour ($7) in B1, and
A1*B1 in C1
then
=C1/((40+(A1-40)*1.5))
gives the value per hour to pay

So in A3 enter 40, in B3 enter the formula above and in C3 enter = A3*B3
in A4 enter =A1-A3, in B4 enter = B3*1.5, in C4 enter A4*B4
 
Regular hours =R, at $X/hr earns RX
Overtime hours= N, at (1.5X)/hr, earns 1.5NX
Total earning = RX + 1.5NX; total hours = R+N
Average = (RX + 1.5NX)/(R+N)
This must be made equal to 7 by changing X
(RX + 1.5NX)/(R+N) = 7
(RX + 1.5NX)= 7(R+N)
X(R+1.5N) = 7(R+N)
X= 7(R+N)/(R+1.5N)

If R=40 and N=5 then X = 6.631579 $/hr
best wishes and I hope we get a good mark for OUR homework
 
Excellent work; thanks Roger!

Roger Govier said:
Hi

With Hours actually worked in A1, Standard price per hour ($7) in B1, and
A1*B1 in C1
then
=C1/((40+(A1-40)*1.5))
gives the value per hour to pay

So in A3 enter 40, in B3 enter the formula above and in C3 enter = A3*B3
in A4 enter =A1-A3, in B4 enter = B3*1.5, in C4 enter A4*B4
Click to expand...
 
If you really thought it was homework, why did you respond?

If you didn't, and believe that he pays $7.00 per hour, and is ready to pay less, why did you respond?

--
---
HTH

Bob


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



Regular hours =R, at $X/hr earns RX
Overtime hours= N, at (1.5X)/hr, earns 1.5NX
Total earning = RX + 1.5NX; total hours = R+N
Average = (RX + 1.5NX)/(R+N)
This must be made equal to 7 by changing X
(RX + 1.5NX)/(R+N) = 7
(RX + 1.5NX)= 7(R+N)
X(R+1.5N) = 7(R+N)
X= 7(R+N)/(R+1.5N)

If R=40 and N=5 then X = 6.631579 $/hr
best wishes and I hope we get a good mark for OUR homework
 
There's a flaw in this scheme. I won't point it out since I don't agree with his tactics to cheat the employees.

--
Biff
Microsoft Excel MVP


If you really thought it was homework, why did you respond?

If you didn't, and believe that he pays $7.00 per hour, and is ready to pay less, why did you respond?

--
---
HTH

Bob


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



Regular hours =R, at $X/hr earns RX
Overtime hours= N, at (1.5X)/hr, earns 1.5NX
Total earning = RX + 1.5NX; total hours = R+N
Average = (RX + 1.5NX)/(R+N)
This must be made equal to 7 by changing X
(RX + 1.5NX)/(R+N) = 7
(RX + 1.5NX)= 7(R+N)
X(R+1.5N) = 7(R+N)
X= 7(R+N)/(R+1.5N)

If R=40 and N=5 then X = 6.631579 $/hr
best wishes and I hope we get a good mark for OUR homework
 
Sat, 8 Dec 2007 10:18:00 -0800 from Raisincain
I have posted this question in the more appropriate formula assistance
forum, but since it seems infrequently visted compared to this forum, I
thought maybe someone here could offer some advice.
Click to expand...

Please don't multipost. If you must post to multiple groups,
crosspost so you don't waste people's time.

I answered your query in the functions group.
 
Sat, 8 Dec 2007 18:43:15 -0000 from Roger Govier
With Hours actually worked in A1, Standard price per hour ($7) in B1, and
A1*B1 in C1
then
=C1/((40+(A1-40)*1.5))
gives the value per hour to pay

So in A3 enter 40, in B3 enter the formula above and in C3 enter = A3*B3
in A4 enter =A1-A3, in B4 enter = B3*1.5, in C4 enter A4*B4
Click to expand...

Please note that this is almost certainly illegal under US and state
labor laws.
 
Because I was a teacher for 40 years.
--
Bernard V Liengme
Microsoft Excel MVP
www.stfx.ca/people/bliengme
remove caps from email

If you really thought it was homework, why did you respond?

If you didn't, and believe that he pays $7.00 per hour, and is ready to pay less, why did you respond?

--
---
HTH

Bob


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



Regular hours =R, at $X/hr earns RX
Overtime hours= N, at (1.5X)/hr, earns 1.5NX
Total earning = RX + 1.5NX; total hours = R+N
Average = (RX + 1.5NX)/(R+N)
This must be made equal to 7 by changing X
(RX + 1.5NX)/(R+N) = 7
(RX + 1.5NX)= 7(R+N)
X(R+1.5N) = 7(R+N)
X= 7(R+N)/(R+1.5N)

If R=40 and N=5 then X = 6.631579 $/hr
best wishes and I hope we get a good mark for OUR homework
 
In all my days at school and at college, my teachers never did my homework!

--
---
HTH

Bob


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



Because I was a teacher for 40 years.
--
Bernard V Liengme
Microsoft Excel MVP
www.stfx.ca/people/bliengme
remove caps from email

If you really thought it was homework, why did you respond?

If you didn't, and believe that he pays $7.00 per hour, and is ready to pay less, why did you respond?

--
---
HTH

Bob


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



Regular hours =R, at $X/hr earns RX
Overtime hours= N, at (1.5X)/hr, earns 1.5NX
Total earning = RX + 1.5NX; total hours = R+N
Average = (RX + 1.5NX)/(R+N)
This must be made equal to 7 by changing X
(RX + 1.5NX)/(R+N) = 7
(RX + 1.5NX)= 7(R+N)
X(R+1.5N) = 7(R+N)
X= 7(R+N)/(R+1.5N)

If R=40 and N=5 then X = 6.631579 $/hr
best wishes and I hope we get a good mark for OUR homework
 
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