Calculating Amount to be Paid

[Jennifer]

I am sure this is a simple formula, but for the life of me I cannot figure
this one out at the moment. I have a column oshowing the number of hours
worked (formatted [h):mm )
and need to caluclate if paid $50.00 per hour how much would that individual
be paid for the number of hours worked?

 

[T. Valko]

Try this:

=time*24*rate

A1 = 8:00
B1 = 50

=A1*24*B1

Format as General or Number

 

[Chip Pearson]

=Time*24*Rate

Times are stored in Excel as fractions of a 24-hour day (0.25 = 6:00,
0.5 = 12:00, 0.75 = 18:00 and so on), so multiplying a time value by
24 gives you the number of hours. Multiply that by the $/hr rate and
you'll have the desired result. I have a lot of formulas and code
related to dates and times in Excel at
http://www.cpearson.com/Excel/datetime.htm

Cordially,
Chip Pearson
Microsoft MVP
Excel Product Group
Pearson Software Consulting, LLC
www.cpearson.com
(email on web site)