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How to calculate hourly rate?

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    Post How to calculate hourly rate?

    Hi,

    I have a spread sheet with employee names, hours worked, and Gross Pay. What i am missing is hourly rate. I thought i had figured it out but then realized at 88 hours there is overtime which is 1.5 times the regular rate.

    Here is the formula that works when there is no overtime: =((E20*100)/(4+100))/C20

    E20 = Gross Pay
    4 = Vacation Pay
    C20 is Hours worked.
    ((E20*100)/(4+100))/C20 = Hourly rate and work if no overtime

    Could someone help me figure this out?

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    Re: How to calculate hourly rate?

    are you still using 2007
    is overtime ONLY at 1.5 times - for any time worked , week, weekend, sunday

    how many hours is paid normally ???

    what period is the C20 hours worked - for ,

    gross pay / hours worked - would give the hour rate

    does gross pay , also include the overtime, or is that the base salary ?

    i maybe missing something - but can you explain your formula
    100+4 ???
    e20 *100
    i'm not following
    Wayne
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    Re: How to calculate hourly rate?

    The said employee has 91 hours.
    88 hours is at regular rate.
    The remaining hours (3hrs) have a rate of 1.5 times the regular rate.
    4% is vacation pay.

    So the scenario is this:
    C20 is Hours worked: 91 (So 88 hours at regular pay, 3 hours at overtime rate (x 1.5))
    The hourly rate is $21 per hour (This is the unknown field, that i am trying to calculate)
    E20 is The Gross Pay: (88 x $21) + (3 x $31.5) = 1942.5 + 4% Vacation Pay = 2020.20
    So Gross pay includes regular hours, overtime hours and vacation pay.

    So the answer is this Employees hourly rate is $21

    Does that help?

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    Re: How to calculate hourly rate?

    Try

    Hourly Rate=GP/(1.04*(MIN(88,TH)+ MAX(0,(TH-88))*1.5))

    where GP is Gross Pay, TH =Total Hours worked
    If that takes care of your original question, please select Thread Tools from the menu link above and mark this thread as SOLVED.

  5. #5
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    Re: How to calculate hourly rate?

    Thank you very much that does it.

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