by "[Mr.] Lynn Kurtz" <kurtz@[EMAIL PROTECTED]
>
May 30, 2008 at 01:55 AM
On Thu, 29 May 2008 20:13:45 -0500, "Gary" <allge@[EMAIL PROTECTED]
> wrote:
>I am looking for a formula to calculate regular hour rates and overtime
hour
>rates when the total income is already known. Overtime rate is 1.5 more
per
>hour than the regular rate. An example would be:
>
>total wages = $85,000
>number of regular hours = 2,000
>number of overtime hours = 150
>regular hours rate = ?
>overtime hours rate = ?
>
>I can work this out long hand, but would like to discover a formula.
>
>Regards,
>Gary
Let R = number of regular hours
O = number of overtime hours
T = total pay
x = regular hourly rate.
Then R*x + O*1.5*x = T
Solving for x gives:
x = T / ( R + 1.5*O )
In your example x = 85000 / (2000 + 1.5*150 ) = 38.20.
--Lynn
