I need a formula to compute payroll for regular hours plus overtime.
If I start with 53 hours at $14.50 per hour, and use a base of 40 hours per week, I need to compute the pay for the 40 hours PLUS the pay for the 13 hours overtime at time and a half.
=(40*14.5)+13*(14.5*1.5)
The formula shown above does the computation manually, but I need a formula that will do it automatically for a large number of employees.
If I start with 53 hours at $14.50 per hour, and use a base of 40 hours per week, I need to compute the pay for the 40 hours PLUS the pay for the 13 hours overtime at time and a half.
=(40*14.5)+13*(14.5*1.5)
The formula shown above does the computation manually, but I need a formula that will do it automatically for a large number of employees.