Do Planning Rates use the Labor Multipliers

Here is what I attempting to achieve:

1. Resource Class level Labor rate (fits business requirement perfectly)
2. Create an Overtime Labor Rate Multiplier (1.5)
3. Enter planned budgeted hours against my Expenditure types, regular hours uses the resouce class labor rate, overtime hours uses regular hours x the multiplier.

Therefore, my question is, do planning rates (resource class level schedule specifically) consider any labor multipliers associated to the organization via the labor cost rule?

Thank you!

Esmeralda