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Calculate wage in excel?

Posted on 2011-04-26
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Last Modified: 2012-05-11
I'm trying to calculate a wage for an employee that works X amount of hours.. but of course I have to contend with Overtime, which makes the calculation difficult.  I need to calculate the Wage times the first 40 hours worked, and then multiply the wage by 1.5 for the additional hours worked in the week.

Is there an easy way to do that in excel? wage-demo.xlsx
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Question by:Kyle Witter
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15 Comments
 
LVL 81

Accepted Solution

by:
zorvek (Kevin Jones) earned 1000 total points
ID: 35467882
Use this formula:

=MIN(40,C2)*B2+MAX(0,C2-MIN(40,C2))*B2*1.5

Kevin
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LVL 50

Assisted Solution

by:barry houdini
barry houdini earned 500 total points
ID: 35467896
Try this formula to cope with any number of hours

=MIN(40,C2)*B2+MAX(0,C2-40)*B2*1.5

regards, barry
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LVL 6

Expert Comment

by:KnutsonBM
ID: 35467905
=IF(C2>40,SUM(40*B2,(C2-40)*(B2*1.5)))
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LVL 6

Assisted Solution

by:KnutsonBM
KnutsonBM earned 500 total points
ID: 35467912
there was an error in my last one:

=IF(C2>40,SUM(40*B2,(C2-40)*(B2*1.5)),C2*B2)
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LVL 81

Assisted Solution

by:zorvek (Kevin Jones)
zorvek (Kevin Jones) earned 1000 total points
ID: 35467928
Short formula contest?

=C2*B2+MAX(0,C2-40)*B2*0.5

Kevin
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LVL 1

Author Closing Comment

by:Kyle Witter
ID: 35467967
Thanks for the QUICK help!
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LVL 85

Expert Comment

by:Rory Archibald
ID: 35467971
=B2*(MIN(40,C2)+MAX(0,C2-40)*1.5)
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LVL 50

Expert Comment

by:barry houdini
ID: 35467978
OK, how about

=(C2*3-MIN(C2,40))*B2/2

barry
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LVL 85

Expert Comment

by:Rory Archibald
ID: 35468005
=I
where I is a defined name containing your formula. :)
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LVL 81

Expert Comment

by:zorvek (Kevin Jones)
ID: 35468021
Rory, that's cheating. Harry Barry whatever his name is wins. I have too much real work to do.
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LVL 50

Expert Comment

by:barry houdini
ID: 35468087
No functions?

=(C2>{0,40})*(C2-{0,40})*{1,0.5}*B2

barry
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LVL 81

Expert Comment

by:zorvek (Kevin Jones)
ID: 35468124
Now you are just showing off ;-)
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LVL 1

Author Comment

by:Kyle Witter
ID: 35468191
If I wanted this formula to just calculate regular wages if the employee worked less than 40 hours, how would I do it?  Right now if the employee has worked 0 hours, it still calculates them as 40.
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LVL 81

Expert Comment

by:zorvek (Kevin Jones)
ID: 35468210
Any of the above formulas will handle less than 40 hours.

Kevin
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LVL 6

Expert Comment

by:KnutsonBM
ID: 35468227
i know mine will work for less than 40...............i didnt check the others........
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