In this article, we will learn how to Calculate Overtime wages using the excel formula.
At Instance, sometimes we need to calculate the wages of the day including the employees overtime. Find the total wage for a particular Employee including its overtime. Perform the task as explained below.
How to Solve the Problem?
For this, we don't need to use any function. Just some basic operation and some logic. We were given some values. Total hrs done by employee, Overtime hrs, Regular hrs, Wage per regular hour and overtime compensation
reg_hrs : regular hours
wage/hr : wage per hour
over_time : over time
compensation : extra wage to compensate for over time
The above statements can be confusing to understand. So let’s understand this by using the formula in an example
Here we have some data and compensation is 1.5 times the wage per hour.
Use the formula in the G6 cell:
As you can see the wage for the whole day for the employee ID 0082.
Now copy the formula to the other cells to get the Wage per day for other Employees. Use Ctrl + D or drag down option to get results.
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