## Weighted Average Regular Pay Rate for OvertimeIf an employee earns two or more different pay rates for different tasks during a single 7 day workweek, a weighted average of the pay rates is calculated to establish a "regular pay rate" for use in all pay calculations for that workweek. For example, suppose within one workweek, an employee works a total of 45 hours where the first 24 hours were at a rate of $10.00 and the next 21 hours were at a rate of $15.00. The weighted average "Regular Rate" for use in overtime calculations would be calculated using the following formula. (24 hrs * $10.00/hr) + (21 hrs * $15.00/hr) ------------------------------------------- = $12.33 regular rate per hour. 45 total hours worked. Therefore the employee would have gross pay based on the following: 24 hours * $12.33 per hour regular rate = $295.92 16 hours * $12.33 per hour regular rate = $197.28 5 hours * $12.33 per hour regular rate * 1.5 OT = $92.48 ======= $585.68 Gross Pay Some of the actual US legal code appears below...
References: 1 2 |
Find out more about
Spectrum TimeClock.
## Topics## General InformationSpectrum Research, Inc.Export to Excel ## Accessing Your ClockSave a Website ShortcutSave a Smart Phone Shortcut Time Clock Punching Options Time Clock Punch Locations ## ConfigurationForgot Password FunctionHoliday Pay Setup Time Clock Rounding ## Running PayrollHow to Run PayrollRun a Payroll Batch View a Payroll Batch Run a Quick Payroll Report ## Exporting Time DataExport Time Data from Spectrum## Import Time DataImport time data into PeachtreeImport time data into QuickBooks ## Employee ManagementDelete / Deactivate EmployeesReactivate Employees ## Punching IN / OUTEmployee Forgot Punch InEmployee Forgot Punch Out ## Additional ModulesBioNetick Module Installation## Other Support.Request Remote AssistanceTRACERT diagnostic ## DOL RegulationsHow to Calculate OvertimeOvertime Averaging Fixed Salary for Fluctuating Hours Weighted Average Regular Rate Employee Training Hours & Overtime All articles are |