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#1
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Need help with Overtime formula.
Hello!
I have several employees that work for me at $7.00 per hour. They want to work more hours per week at this same wage, but I am unable to afford overtime for them. Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This number x will change with each schedule since they will work a different number of hours per schedule (ie an employee may work 55 hours in week one, 50 hours in week two, 60 hours in week three, and so on). Can anyone help with a formula that will solve for x based on these changing hours with the average rate of pay still staying at or around $7.00 per hour? Thank you, Brad in Dallas |
#2
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Need help with Overtime formula.
see response to your posting in another group
-- Regards Roger Govier "Raisincain" wrote in message ... Hello! I have several employees that work for me at $7.00 per hour. They want to work more hours per week at this same wage, but I am unable to afford overtime for them. Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This number x will change with each schedule since they will work a different number of hours per schedule (ie an employee may work 55 hours in week one, 50 hours in week two, 60 hours in week three, and so on). Can anyone help with a formula that will solve for x based on these changing hours with the average rate of pay still staying at or around $7.00 per hour? Thank you, Brad in Dallas |
#3
Posted to microsoft.public.excel.worksheet.functions
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Need help with Overtime formula.
Sat, 8 Dec 2007 10:08:00 -0800 from Raisincain
: Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This is not an Excel answer, but a legal one. I'm not a lawyer, but I believe you're buying yourself a heap of trouble. Check with your state's department of labor, and I'll bet you'll find this scheme is illegal. If I am not mistaken, U.S. and state laws require that overtime employees who are not exempt must be paid 1.5 times their *regular* rate. If their regular rate is $7 an hour, you must pay them $10.50 for overtime. The law doesn't let you reduce their regular rate for their overtime hours and then reinstate it for their straight-time hours, not even with their consent. (This is to prevent employers pressuring employees into just the sort of scheme you propose.) Even if it did, the reduced rate would be 2/3 of $7.00, or about $4.67, which is well below minimum wage and therefore a *second* violation. If you can't afford to pay overtime, you can't have workers work overtime. -- Stan Brown, Oak Road Systems, Tompkins County, New York, USA http://OakRoadSystems.com/ "If there's one thing I know, it's men. I ought to: it's been my life work." -- Marie Dressler, in /Dinner at Eight/ |
#4
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Need help with Overtime formula.
If your hours worked is in B3, and your Average Rate (that you want)
is in C3, your hourly base rate is going to be as follows: =(C3-B3)/(1.5*B3-20) Notice that if your hours go below 40, this base rate will be over 7 hours. On Dec 8, 1:08 pm, Raisincain wrote: Hello! I have several employees that work for me at $7.00 per hour. They want to work more hours per week at this same wage, but I am unable to afford overtime for them. Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This number x will change with each schedule since they will work a different number of hours per schedule (ie an employee may work 55 hours in week one, 50 hours in week two, 60 hours in week three, and so on). Can anyone help with a formula that will solve for x based on these changing hours with the average rate of pay still staying at or around $7.00 per hour? Thank you, Brad in Dallas |
#5
Posted to microsoft.public.excel.worksheet.functions
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Need help with Overtime formula.
Sorry, I meant:
=(C3-B3)/(1.5*B3-20) On Dec 9, 7:57 pm, ilia wrote: If your hours worked is in B3, and your Average Rate (that you want) is in C3, your hourly base rate is going to be as follows: =(C3-B3)/(1.5*B3-20) Notice that if your hours go below 40, this base rate will be over 7 hours. On Dec 8, 1:08 pm, Raisincain wrote: Hello! I have several employees that work for me at $7.00 per hour. They want to work more hours per week at this same wage, but I am unable to afford overtime for them. Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This number x will change with each schedule since they will work a different number of hours per schedule (ie an employee may work 55 hours in week one, 50 hours in week two, 60 hours in week three, and so on). Can anyone help with a formula that will solve for x based on these changing hours with the average rate of pay still staying at or around $7.00 per hour? Thank you, Brad in Dallas |
#6
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Need help with Overtime formula.
Third time is the charm.
=(C3*B3)/(1.5*B3-20) On Dec 9, 8:01 pm, ilia wrote: Sorry, I meant: =(C3-B3)/(1.5*B3-20) On Dec 9, 7:57 pm, ilia wrote: If your hours worked is in B3, and your Average Rate (that you want) is in C3, your hourly base rate is going to be as follows: =(C3-B3)/(1.5*B3-20) Notice that if your hours go below 40, this base rate will be over 7 hours. On Dec 8, 1:08 pm, Raisincain wrote: Hello! I have several employees that work for me at $7.00 per hour. They want to work more hours per week at this same wage, but I am unable to afford overtime for them. Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This number x will change with each schedule since they will work a different number of hours per schedule (ie an employee may work 55 hours in week one, 50 hours in week two, 60 hours in week three, and so on). Can anyone help with a formula that will solve for x based on these changing hours with the average rate of pay still staying at or around $7.00 per hour? Thank you, Brad in Dallas |
#7
Posted to microsoft.public.excel.worksheet.functions
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Need help with Overtime formula.
I saw a company my friend worked for get in trouble with the US Dept
of Labor for that ... not paying overtime. In order to be required to pay it, the company income has to be at or above a certain threshold, I'm not sure what that is. Anyway, their reason in not paying it is that working overtime was 'voluntary', so they just paid straight- pay ... for years. Well, in addition to a hefty fine and damaged reputation, the company had to go back just 2 years and pay everyone that worked overtime the money that was due, whether they still worked there or not. Besides, how loyal can you be to your loyal employees if you won't pay them the overtime. On Dec 9, 8:59 am, Stan Brown wrote: Sat, 8 Dec 2007 10:08:00 -0800 from Raisincain : Department of labor laws state that every hour over 40 per week must be paid at 1.5 the normal hourly rate. My employees have agreed to take a cut in pay to enable me to pay them whatever amount is necessary if, when overtime is applied, they average out to $7.00 per hour. In other words, they are willing to work for 40 hours per week at x amount and a variable number of hours for x*1.5 as long as the x +(x*1.5) averages $7.00 per hour. This is not an Excel answer, but a legal one. I'm not a lawyer, but I believe you're buying yourself a heap of trouble. Check with your state's department of labor, and I'll bet you'll find this scheme is illegal. If I am not mistaken, U.S. and state laws require that overtime employees who are not exempt must be paid 1.5 times their *regular* rate. If their regular rate is $7 an hour, you must pay them $10.50 for overtime. The law doesn't let you reduce their regular rate for their overtime hours and then reinstate it for their straight-time hours, not even with their consent. (This is to prevent employers pressuring employees into just the sort of scheme you propose.) Even if it did, the reduced rate would be 2/3 of $7.00, or about $4.67, which is well below minimum wage and therefore a *second* violation. If you can't afford to pay overtime, you can't have workers work overtime. -- Stan Brown, Oak Road Systems, Tompkins County, New York, USA http://OakRoadSystems.com/ "If there's one thing I know, it's men. I ought to: it's been my life work." -- Marie Dressler, in /Dinner at Eight/ |
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