IF function

[lildoe_onfire]

if Hours,=40, then Gross Pay= Rate*Hours, otherwise Gross Pay = Rate * Hours + .5 * Rate* (Hours-40)

What in the World does this mean? I am so confused

 

[PaddyD]

Hi - welcome to the board.

It means you get paid time & a half for any hours worked over 40 hours.

Need any more?

Paddy

 

[PaddyD]

Book4
	A	B	C	D	E	F
1		Rate	HoursWorked	Pay-allatnormalrates	Paywithovertime
2	EmployeeA	$10.00	39	$390.00	$390.00
3	EmployeeB	$10.00	40	$400.00	$400.00
4	EmployeeC	$10.00	41	$410.00	$415.00
5
6
7	IF(C2<=40,C2*B2,(40*B2)+(C2-40)*(B2*1.5))
8	Thissays-ifc2islessthanorequalto40,multiplyc2byb2.
9	I.E.Ifyou'veworked40hoursorless,yougetpaidatthestandardhourlyrate.
10	But,ifyouhaveworkedover40hours,yougetpaidatthestandardrateforyour
11	first40hours(40*B2)plusyougetpaidattimeandahalffortheextrahours.
12	So,workouthowmanyhoursthatis(c2-40)andmultiplythisby1.5timesthe
13	standardhourlyrate(C2-40)*(B2*1.5)
14
15
Sheet3