Description:
This calculator determines the gross pay or earnings for
a week. It does calculate net pay. Net pay would deduct
taxes, Social Security and Medicare, local, state and
federal taxes, health insurance and retirement savings
from your paycheck and would be difficult to compute.
The calculator includes rates for regular time and overtime.
Pay rates include straight time, time and a half, double
time and triple time. In addition, a rate of nothing was
included for people who work for free for part of the
week. For example, some professionals have to work several
hours for free, professional time, before straight time
or overtime is earned. Check with your company for policies
and laws to determine your rates.
Two overtime rates are included for people being paid
different overtime rates depending on how many hours are
worked. For example, a person is paid time and a half
for the hours worked between 40 and 46. After 46 hours
they are paid overtime.
A graph or plot is included to give a visual representation
of the earning and pay rates.
Directions:
Parameter |
Notes |
Hourly rate |
This the the amount of money
you are paid or compensated per hour. |
Pay rates |
Choices include nothing (professional
time), time and a half, double time and triple time.
Regular - This is rate you make during normal hour.
Overtime 1- This is the rate you make when working
overtime.
Overtime 2 - Use this as a second overtime time
rate when overtime is variable. Select the box next
to "Overtime 2" to enable these rates.
The minimum Overtime 2 can be set is 1 hour above
Overtime 1. |
Hours worked |
This is the number of hours worked
during the week. |
Solution |
Notes |
Regular |
Provides the normal pay rate,
hours worked and earrings. |
Overtime 1 |
Provides the Overtime 1 pay rate,
hours worked and earrings. |
Overtime 2 |
Provides the Overtime 2 pay rate,
hours worked and earrings. |
| Total |
Provides the average pay rate, total hours worked
and the total pay. Note, the average pay is what you
actually earn per hour. |
