Overtime rate: $36.06 x 1.5 = $54.09 per hour Overtime pay: 5 hours x $54.09 = $270.45 Total weekly pay: $1,442.31 + $270.45 = $1,712.76 Some industries or countries may have higher rates for specific conditions. For instance, in Australia, some awards mandate double time for work ...
Example: Premium Overtime Rate Calculation for a Bonus and with an Earned Date In this example, an employee earns $10 per hour on a semimonthly payroll, works 120 hours, 30 hours overtime, and earns a $1500 bonus that impacts premium rate. When you run the payroll, this is how the pr...
ExampleSean has an overtime rate of $15 per hour. To make sure this cost is accurately calculated when Sean is used in your project, type15/hin the Overtime Rate field. If you don't type a slash and time unit, hours are used. RemarksYou can enter the overtime rate for a res...
Using the blended rate, the overtime rate may change as the total hours worked in a week change. For instance, if the employee worked 5 hours supervising, 25 hours washing floors, and 20 hours emptying trash, the blended rate per hour would be $13.50. Employers must calculate this every ...
The OvertimeRateFormat enumeration has the following members. Member Value Description minute 1 The resource overtime rate is per minute. hour 2 The resource overtime rate is per hour. day 3 The resource overtime rate is per day. week ...
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The standard overtime rate is 1.5 times the employee’s regular hourly wage. This number is also commonly known as “time-and-a-half.” So if one employee makes $15 per hour, their overtime rate is $22.50 per hour ($15 x 1.5). If another employee makes $25 per hour, their overti...
2. Find the overtime premium pay rate, which is one half of the regular hourly rate. In this case, their regular hourly rate is $20 per hour so the overtime pay rate would be $10. $20 x 0.5 = $10 3. Multiply the overtime pay rate by the number of hours worked overtime. If...
Multiply $21.11 by 0.5 to find out what the employee’s overtime rate is: $21.11 X 0.5 = $10.56 The employee’s overtime rate is $10.56 per hour. Because the employee worked five hours of overtime, you must multiply $10.56 by 5 to get the employee’s total overtime pay. Then, ...
Their normal pay rate is $30 per hour and they will receive overtime pay of time and a half. We can now plug these numbers into the overtime formula: overtime pay = $30 × 1.5 × 10 overtime pay = $450 The overtime pay rate is found by multiplying the hourly rate by the ov...