Hours and Money

shaun · 01-28-2005, 11:06 AM

I wish to create a formula which can add two times together, and then a
formula that can multipy that by a pay rate.

I can figure out something to add the times, but it doesn't seem to work
multiplying it by a payrate. Can you help?

Thanks.

**swatsp0p** · 01-28-2005, 12:14 PM

You say you are adding times. I am assuming that your times are in hh:mm format. Therefore, 7:30 = seven hours and 30 minutes? If so, you cannot multiply this by an "hourly" rate. You must first change your hours/minutes to hours/part of hour. This is done by multiplying your time number by 24.

Example: Your number of hh:mm is in cell E7 and your hourly rate is $10.00. Place this formula in F7 to calculate gross earnings:

(E7*24)*10

Here is a formula I use with a time sheet my employees use to track their IN/OUT, IN/OUT for each day:

=IF(((D8-C8)+(F8-E8))*24<0,0,((D8-C8)+(F8-E8))*24)

Col. C is for punch IN for the day
Col. D is for punch OUT for lunch
Col. E is for punch IN from lunch
Col. F is for punch OUT for the day

If the total value for the day is zero, I enter zero in the Total column G, if not, I add together the morning and afternoon work hours for a daily total in a decimal format, e.g. 8.25 hours (eight hours and fifteen minutes)

At the end of the pay period, I tally these numbers and multiply by their hourly rate.

HTH

Peo Sjoblom · 01-28-2005, 02:06 PM

One excel hour is 1/24 so to be able to get an amount based on an hourly
payrate

=added_hours*24*payrate

format as general or currency

Regards,

Peo Sjoblom

"shaun" wrote:

> I wish to create a formula which can add two times together, and then a
> formula that can multipy that by a pay rate.
>
> I can figure out something to add the times, but it doesn't seem to work
> multiplying it by a payrate. Can you help?
>
> Thanks.

Ron de Bruin · 01-28-2005, 02:06 PM

See Chip Pearson's site for example formulas
http://www.cpearson.com/excel/overtime.htm

--
Regards Ron de Bruin
http://www.rondebruin.nl

"shaun" <shaun@discussions.microsoft.com> wrote in message news:09795BB6-D3F0-4ADA-943C-A80497F67886@microsoft.com...
>I wish to create a formula which can add two times together, and then a
> formula that can multipy that by a pay rate.
>
> I can figure out something to add the times, but it doesn't seem to work
> multiplying it by a payrate. Can you help?
>
> Thanks.