YOUR PAY EXAMPLES

Here are two examples that illustrate how to use the program.

They can be found on  YourPay_Sample.xls

The first is for working all year, the fullyear, with no time lost. The second is for working only part of the year showing the difference between Actual Pay and Effective Pay.

 

Example 1.  Suppose you work 8 hours a day (8 hours/day ) , 5 days a week (5 days/week ) , all year long ( a fullyear). Your pay rate is $12 an hour ($12/hour). You get paid weekly, say every Tuesday for the previous weeks work.  Here you make your entries in the HOURLY Section.

 In the HOURLY section :

  for Hours worked / day, in the yellow cells enter 8, 

  for Days worked / week, in the yellow cells enter 5 ,

  for Weeks worked / year, in the yellow cells enter “=fullyear ,

   for $ / hour worked,  in the yellow cells  enter 12.

 

Your entries look as shown below. The way the numbers appear is due the formatting on the spreadsheet.

 

HOURLY

Enter Hourly pay ( $ / Hour Worked),  the rest get calculated.

WEEKLY WORK SCHEDULE

Hours worked/day

8

Days worked/week

5

WEEKS Worked in the Year

Weeks worked/year

52.1429

<---If you work year round with paid vacation and/or paid sick leave, us 52.14285 or type in "=fullyear")

52.1429

 weeks   =

HOURLY PAY RATE

$ / hours worked

$12.00

$12.00

 

The spreadsheet immediately shows the display below.  

 

52.1429

 weeks   =

12

months         =

1

Years

The time you worked

HOURLY PAY RATE

$12.00

$12.00

$96.00

$480.00

$2,085.71

$25,028.57

Actual Pay

$12.00

$96.00

$480.00

$2,085.71

$25,028.57

Effective Pay

Hourly

Daily

Weekly

Monthly

Annual

 

$ / Hour

 $ / Day

$ / Week

$ / Month

$ / Year

 

Now you know what your pay means in all time frames. Since this is your Gross pay, your pay before taxes and other deductions, you actually have about two-thirds of the these amount to spend. So, the $2085 / month leaves you about $1400 a month to spend. A $700 month rent or mortgage is about the maximum that you can handle without lots of pain.

 

 

Example 2.  Suppose you worked 7 hours a day (7 hours/day)  4 days a week (4 days/week)  for 40 weeks of the year  and your contractual pay (Pay Rate),  is $2050.29 per month ($2050.29 / month) . Here you make your entries in the MONTHLY Section.

In the Monthy section :

  for Hours worked / day, in the yellow cells enter 5, 

  for Days worked / week, in the yellow cells enter 4 ,

  for Weeks worked / year, in the yellow cells enter 40 ,

   for $ / month worked,  in the yellow cells  enter 2050.29.

 

Your entries look as shown below. The way the numbers appear is due the formatting on the spreadsheet.

 

MONTHLY

Enter MONTHLY pay ( $ / Month Worked),  the rest get calculated.

WEEKLY WORK SCHEDULE

Hours worked/day

7

Days worked/week

4

WEEKS Worked in the Year

Weeks worked/year

40.0000

<---If you work year round with paid vacation and/or paid sick leave, us 52.14285 or type in "=fullyear")

40.0000

 weeks   =

MONTHLY PAY RATE

$ / months worked

$2,050.29

$16.85

 

The spreadsheet immediately shows the display below.  

 

 

weeks   =

9.205479452

months        =

0.767123288

years

The time you worked

$16.85

$117.96

$471.85

$2,050.29

$24,603.48

Actual Pay

$12.93

$90.49

$361.97

$1,572.83

$18,873.90

Effective Pay

Hourly

Daily

Weekly

Monthly

Annual

 

 

 

You get the results -