To calculate the payment based on the worked hours & rate, we have to multiply each time value by its matching numerical rate.
Let us take an example:
In this example, we will show you how to calculate the number of working hours say 22 hours, & do a simple multiplication with hourly rate to get the payment.
- Column A contains time values representing worked hours.
Column B contains hourly rates.
- In order to calculate the payment, we will multiply the hours worked with rate.
- In cell C2, the formula would be =A2*B2*24
- Copying down the formula from cell C2 to range C3:C4, we will get the desired result.
In this tip, Hours x Rate will be multiplied by 24 because Excel treats time formats quite differently than regular numbers.
One day = one whole time unit, therefore one hour = 1/24th of a whole unit, and we must multiply hours by 24 to achieve whole units of time.