Weekly Bonus with OT Calculation Question
How to calculate OT with a weekly Bonus in place.
We have a weekly Perfect Attendance Bonus rolling out.
We've been told the math needs to work as follows:
Employee Base Rate = $10
Bonus = $100
Regular Hours = 40 Hours
Overtime Hours = 2 Hours
New Base Rate Calculation = (42 Hours * $10) + $100 = $520/42 Hours = $12.38
Base Calculation = 42 Hours * $10 = $420
Perfect Attendance Bonus = $100
Overtime Calculation = 2 * $12.38 * .5 = $12.38
We were looking at an Overtime fast formula, but that doesn't really get at my Base Calculation.
So wondering if anyone has something similar in Payroll right now? And how did you get it to work?
Version (include the version you are using, if applicable):