Salary and Pay Rates

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# If your overtime rate is 2.40 per hour more than your usual rate then what is your overtime rate?

Top Answer

###### Wiki User

###### January 10, 2010 6:51AM

Assuming your overtime rate of pay is "time and a half", your overtime rate is $7.20 per hour. That would make your normal rate of pay $4.80 per hour, which means you really should start reading the classified ads or join a union...

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### How is overtime rate and overtime pay calculated?

Overtime rate is 1.5. Overtime pay is standard pay
(per hour) x number of overtime hours x 1.5. Overtime pay
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### How do you calculate gross pay for a week?

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1916.67

###### Asked in Salary and Pay Rates, Mathematical Finance, Microsoft Excel

### How do you calculate overtime pay?

Most overtime hours are payed 1& 1/2 times your original
hourly pay. SO if your payed $10.00 an hour you will be payed
$15.00 for every overtime hour. $12.00 would be $18.00 an hour in
overtime pay. $6.50 an hour would be $9.75 an hour overtime rate.
Some states have their own policy on overtime pay but the national
law is 1 1/2 times your original hourly wage. Some professions are
excluded ,see your labor rights poster which should be posted at
your job in an area where all employees are readily able to read
and understand it. Time and one-half the "regular hourly rate." If
an employees regular pay is not expressed as an "hourly" rate,
their regular pay rate must be converted to an hourly
equivalent.
Hourly rate -- (regular pay rate for an employee
paid by the hour). If more than 40 hours are worked, at least one
and one-half times the regular rate for each hour over 40 is
due.
Piece rate -- The regular rate of pay for an
employee paid on a piecework basis is obtained by dividing the
total weekly earnings by the total number of hours worked in that
week. The employee is entitled to an additional one-half times this
regular rate for each hour over 40, plus the full piecework
earnings.
Another way to compensate pieceworkers for overtime, if agreed
to before the work is performed, is to pay one and one-half times
the piece rate for each piece produced during the overtime hours.
The piece rate must be the one actually paid during nonovertime
hours and must be enough to yield at least the minimum wage per
hour.
Salary -- the regular rate for an employee paid a
salary for a regular or specified number of hours a week is
obtained by dividing the salary by the number of hours for which
the salary is intended to compensate.
If, under the employment agreement, a salary sufficient to meet
the minimum wage requirement in every workweek is paid as straight
time for whatever number of hours are worked in a workweek, the
regular rate is obtained by dividing the salary by the number of
hours worked each week. To illustrate, suppose an employee's hours
of work vary each week and the agreement with the employer is that
the employee will be paid $420 a week for whatever number of hours
of work are required. Under this agreement, the regular rate will
vary in overtime weeks. If the employee works 50 hours, the regular
rate is $8.40 ($420 divided by 50 hours). In addition to the
salary, half the regular rate, or $4.20 is due for each of the 10
overtime hours, for a total of $462 for the week. If the employee
works 60 hours, the regular rate is $7.00 ($420 divided by 60
hours). In that case, an additional $3.50 is due for each of the 20
overtime hours, for a total of $490 for the week.
In no case may the regular rate be less than the minimum wage
required by FLSA.
If a salary is paid on other than a weekly basis, the weekly pay
must be determined in order to compute the regular rate and
overtime pay. If the salary is for a half month, it must be
multiplied by 24 and the product divided by 52 weeks to get the
weekly equivalent. A monthly salary should be multiplied by 12 and
the product divided by 52.

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Marginal product is the result of an additional output of
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associated with producing an additional output. An example is
paying an employee the overtime rate per hour for producing 100
more cookies.

###### Asked in Salary and Pay Rates

### How much is 36k a year in an hourly rate?

At my position there are several unpaid holidays and it works
out to about 2000 hours a year, if you do not consider overtime.
This comes out to it taking 18 dollars an hour to make 36k a year.
Obviously when you consider whether you are paid when you are off
and overtime the actual rate can fluctuate alot to end up with that
over the course of a year.

###### Asked in Salary and Pay Rates

### Natasha works a 56-hour week and three 40-hour weeks At the end of the month she is paid 6600 What is her hourly wage?

Either $37.50/hour OR $35.87/hour
If Natasha does NOT receive overtime pay, she makes
$37.50/hour.
56 + 3(40) = 176 hours
$6600/176 = $37.50
If Natasha does receive overtime pay (1.5 times the
hourly rate) for anything over 40 hours in one week, she would make
$35.87/hour.
16 overtime hours = 24 regular hours (16*1.5 = 24)
24 + 4(40) = 184 hours
$6600/184 = $35.87

###### Asked in Salary and Pay Rates

### Can they make you work more than 40 hours a week if your not available?

It depends. Normally, overtime is brought up in work contracts,
if you signed one. If not, then you can challenge mandatory
overtime (which your employer may challenge, because overtime is
USUALLY at a higher rate than normal worktim). If overtime was not
discussed in your contract, you can challenge your employer.
Hope this helps,
-Ubermensch00