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how to calculate a weighted average hourly rate. How to Calculate Weighted Average in 3 Steps with Example 1. For example if you enter 30 hours worked at a Regular rate of 10 an hour 10 hours worked at an Hourly 2 rate of 12 an hour and 10 hours overtime we calculate gross wages of 60000.
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Divide 2025 by 128 and the average hourly pay rate is 1582 per hour. How to Calculate a Blended Weighted Average Overtime Rate 1. This rate contains every possible cost associated with an employee divided by the total number of hours worked by the employee.
Here is an example of a weighted average calculation.
Add together the total wages from both. The weekly earnings 130000 divided by the actual hours worked 45 reflects a 2889 per hour regular rate of pay for that week. This rate is typically aggregated for entire classifications of employees so that for example the fully loaded labor rate for an average machine. When budgeting for future projects remember that if you pay Bill 18 per hour Lisa 16 and Hank and Jake.
