Payroll labor costs

[Guest]

How can I calculate/project payroll costs based on the employee weekly
schedule. I'm not sure what formula to use.

 

[Bearacade]

It depends on how you set up the schedule, should it be a simple SUM?

 

[Guest]

I don't believe a simple SUM would work. For each employee I input their
schedule by day. I want to type in i.e. 10:00 AM to 4:00 PM and have excel
calculate the hours worked times their rate of pay (also calculate OT if
applicable). The end result should one dollar figure that indicates the
overall labor cost for all employees for each week.

 

[Bearacade]

So let's say you have

Column A: Time In
Column B: Time Out
Column C: B - A - Lunch hour
Column D: Hourly Rate
Column E: Calculate Rate (C*D)+((C-8)*(D/2))

Sum of Column E is your Weekly Payroll Projection

Your formula would be a bit different if you calculate 40 hour week
overtimes and other stuff. but this is the basis of it. This is why I
say it depend on how you send up the schedule (And I should have said
how you set up the spreadsheet)