Blended Overtime Rate Calculator The Top 7 Most Common Wage And Hour Mistakes Fast Casual
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The earned overtime amount is.
Walmart tires phone number. 3127 x 15 4691 find overtime pay by multiplying that rate by the 11 hours of overtime worked. To determine an overtime rate based on the type of work performed you must track the pay rate for each of the overtime hours worked and calculate a blended base pay rate. Add together the employees base pay step 1 and their weighted overtime total step 3.
The weighted average overtime rate blended ot is calculated using the following formula. A blended overtime rate calculator takes into account the weighted overtime rate and uses a multiplier coefficient of 05 to calculate the blended overtime pay rate. 3127 x 15 4691 find overtime pay by multiplying that rate by the 11 hours of overtime worked.
Multiply the weighted average by 05 to get the blended overtime rate. An employee can find his blended rate by multiplying the number of hours he worked at each rate by the rate of pay. Blended ot 975 x 05 4875 round 488.
Find the total earnings. How to calculate overtime for dual pay rates. In order to calculate overtime for two pay rates be sure to have the overtime rates of your state handy and a calculator.
While these calculations can be done manually errors are common and can result in inaccurate pay and lead to compliance issues. Take the total amount of hours 48 and subtract 40 hours to get the amount of overtime owed 8 hours weekly overtime. This free online income calculator will calculate your overtime rate of pay based on your regular hourly rate multiplied by the ot multiplier that applies to your job time and a quarter time and a third time and a half double time triple time etc.
The blended overtime rate is equal to the blended rate multiplied by 15. Regular rate overtime multiplier overtime rate. Determine the blended rate by taking the total amount of wages 130024 120024 and divide by the total number of hours worked 48 312 288 48 1250 blended rate.
To calculate his overtime pay. Determine a blended overtime rate. Multiply the weighted overtime rate by the number of overtime hours to get the total bonus overtime pay.
The formula for blending two hourly rates overtime regular hours x regular pay rate overtime hourly 2 hours x hourly 2 rate. The blended overtime rate is equal to the blended rate multiplied by 15. For example if a teachers assistant works 10 hours each week in the cafeteria for 8 an hour and in the classroom for 30 hours each week at 10 an hour the blended rate is 950.
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