How to turn time into money?

[charleyq]

I'm trying to calculate a wage based on minutes.

I have a sheet with a column of time, Column C, which is formatted as h:mm:ss. Most of the entries are minutes and seconds (0:04:13, etc.)

If the rate of pay is 80 cents per minute, how do I sum the minutes and seconds and multiply it times 80 cents per minute (or .013 cents per second)?

Right now I have this formula =SUM(C2:C200) in the F2 cell, formatted as [mm]:ss. The sum is 78 minutes and 13 seconds.

Then in G2 I have this forumla =F2*0.8 and that gives me an incorrect total of $0.04.

 

[tusharm]

Check out the Excel functions MINUTE and SECOND. You will also need to know how to convert seconds to minutes.