My biweekly pay is $ 1,385, my hourly wage is $ 17.31, and my overtime rate is $ 25.96.
To determine, if my annual pay is $ 36,010, what is my biweekly pay based on 26 biweekly paychecks, what is my hourly rate of pay if I work 160 hours per month, and what is my overtime rate, the following calculations must be performed:
- Biweekly paycheks = Annual pay divided by number of payments
- 36.010 / 26 = X
- 1.385 = X
- Therefore, my biweekly pay is $ 1,385.
- Hourly rate per month = Biweekly pay multiplied by two, divided by number of hours worked per month
- (1,385 x 2) / 160 = X
- 2770/160 = X
- 17.3125 = X
- Therefore, my hourly wage is $17.31.
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Overtime rate = Hourly wage multiplied by 1.5.
- 17.31 x 1.5 = X
- 25.96 = X
- Therefore, my overtime rate is $ 25.96.
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