Calculate dollars per hour based on work in seconds

I need to calculate dollars per hour based on work in seconds.
Example
Suppose I have 1 item
This item weighs 6 ounces (37.5% of a pound)
This item costs .22 per pound (22 cents)
So this item is worth .08 (8 cents)
It took me 2 seconds (.06% of an hour) to "Process" this item to get the 8 cents.
So this is .08 per every 2 seconds (or .04 per every 1 second)
at 3600 seconds per hour,...this is .04*3600
...or 144 cents ($1.44)
This works out to be 1.44 per hour, ....is this correct?