Summing cells and having anything over certain value go to another cell

[whodat9]

I need to have this calculate hours for my employees up to 40 hours in the "regular hours" column and than anything over that go into "premium hours". Is there a way to do this?

 

[Joe4]

Welcome to the Board!

Let's say that "Total Hours" are in cell I3.

Then to cap "Regular Hours" at 40, you can use the formula:

=MIN(I3,40)

and to get Premium Hours, you can use:

=MAX(I3-40,0)