![]() ![]() It allows you to enter Dates, Initials of a Name, and Hourly Rate. For this problem, the total time was 2 hours, 10 minutes and 30 seconds. It gives you the total hours worked per day, per week, and the Grand Total of Week 1 + Week 2. 15 minutes times 1 hour per 60 minutes will make the conversion to hours and minutes will cancel out. Youll need to convert the minutes part to hours. The statutory minimum wage is lower for employees under 21, so the table below shows the rates. Converting from minutes to decimal hours. or shorter: 720 of weekly rate (52 weeks per year / 12 months) 3,120 monthly. 18 per hour 40 hours per week (52 weeks per year / 12 months) 3,120 monthly. Next, determine the total amount of time it took for the project to be completed. To calculate your hourly rate based upon your monthly salary, multiply your monthly figure by 12 and then divide it by the number of hours you work per week and again by the number of paid weeks you work each year. per month after tax, as estimated by our salary calculator. 18 per hour 40 hours per week 720 weekly. To calculate annual salary to hourly wage we use this formula: Yearly salary. If you get paid bi-weekly (once every two weeks) your gross paycheck will be 1,462. This number is based on 39 hours of work per week and assuming it’s a full-time job (8 hours per day) with vacation time paid. It is commonly associated with part-time or hourly jobs. In this example problem, the total cost of the project is found to be $10,000.00. A yearly salary of 38,000 is 18.74 per hour. hourly wage 60,320 /yr / ( 40 h/wk × 52 wk/yr) hourly wage 29 per hour What's the difference between a wage and a salary A wage is usually based on an hourly rate, and the total amount you get paid varies with the total hours worked, including overtime. The following example problem will outline the steps required in order to determine the total cost per minute.įirst, determine the total cost of the project. In general, cost per minute is used to define cost per unit time for jobs that are usually priced on an hourly basis but often take less than an hour of time.įor example, if a lawyer is hired for a job that costs $200 per hour but only averages 15 minutes of work on the case per day, it helps to understand the cost per minute to better understand the total cost. ![]() Cost Per Minute DefinitionĪ cost per minute is a financial term used to describe the total cost a project or goal takes per minute of time. To calculate the cost per minute, divide the total cost by the total time in minutes. In some cases, calculating a cost per minute is as simple as dividing the cost per hour by 60. Where CPM is the cost per minute ($/minute). ![]()
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