12/20-HOURLY & OVERTIME PAY

Front

What is the straight time pay rate?

Back

The straight time pay rate is the regular hourly wage an employee earns for their standard working hours, typically 40 hours per week.

Front

How do you calculate time-and-a-half pay?

Back

Time-and-a-half pay is calculated by multiplying the straight time pay rate by 1.5. For example, if the straight time rate is $20, the time-and-a-half rate is $30.

Front

What is double overtime pay?

Back

Double overtime pay is calculated by multiplying the straight time pay rate by 2. For example, if the straight time rate is $20, the double overtime rate is $40.

Front

If an employee works 47.25 hours, how do you calculate their total pay?

Back

Calculate the first 40 hours at the straight time rate, then calculate the additional hours (7.25) at time-and-a-half, and sum both amounts.

Front

What is the formula for calculating total pay for hours worked over 40?

Back

Total Pay = (Straight Time Pay for 40 hours) + (Overtime Hours x Time-and-a-Half Rate)