In this video we discuss what is time and a half earnings, and how to calculate time and a half earnings. We go through an example showing how to calculate the time and a half hourly rate and total time and a half earnings

Transcript/notes
Many hourly employees in certain industries can earn time and a half pay for holidays, sometimes for Saturdays and Sundays and for any overtime hours.
Time and a half means an hourly employee will be paid 1.5 times their regular hourly rate. So, the formula for time and a half is, hourly rate times 1.5.

As an example, let’s say that an employee gets paid an hourly rate of $14.32. Here is their timesheet of hours worked for the week. They get paid time and a half for overtime, over 40 hours Monday through Friday and also for any weekend hours worked, on Saturday and Sunday.

How much did they make in time and a half, and what was their total earnings for the week?

First we need to calculate their time and a half overtime rate, which is 1.5 times their regular hourly rate of $14.32, which equals $21.48 per hour.
Now we can fill in the earnings portion of this table. First is their regular hourly earnings, which is 40 hours times $14.32 per hour, and this equals $572.80. Next, is their overtime earnings for any hours over 40 from Monday through Friday, which is 3.5 hours. So, 3.5 hours times $21.48 per hour, which equals $75.18.

Next is their time and a half earnings for weekend hours. They worked 5.25 hours on Saturday, so, 5.25 hours times their time and a half hourly rate of $21.48, which equals $112.77.

Now we can add their overtime earnings of $75.18 and their weekend earnings of $112.77, which equals $187.95 as their total time and a half earnings. And next we add their regular hourly earnings of $572.80 with the $187.95 time and a half earnings, which equals $760.75 as their total earnings for the week.

Chapters/Timestamps
0:00 What is time and a half earnings explained
0:14 Formula and example of time and a half earnings
0:39 How to calculate time and a half hourly rate

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