Try...

=(A1*24)*12

where A1 houses a time value like 08:00:00.

The formula cell must be formatted as number or currency.

MattG wrote:
I'm trying to work my payroll sheets via excel and am running into an error
when trying to multiply the hourly rate by the hours worked. I am using
excel 2007, the time is formatted to HH:MM:SS and when I for example myltiply
08:00:00 by $12 the result is $3.96, when in fact it should read $96.00. Any
suggestions or formulas would be appreciated.