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How do you calculate overtime pay base daily rates?
This is a common misconception and is overly simplified. A true overtime rate should be time and 1/2 on the "Base Rate" of pay or the factor of 1.5 against the unburdened rate. Example: Each employer (or a Contractor that supplies and laborer) has profit, overhead, and taxation built into a billable rate. If I provide a laborer to a client at a Rate of $50 an hour, only $40 of this is actually being paid to the laborer. The rest is taxes, insurence, benefits, and profit. An overtime factor should never be applied to a rate that contains this. The OT rate should be 1.5 X $40 plus the $10 overhead costs. Which would be $70.00 hour. If you're being charged an OT rate of $75 hour then you're being gouged.
What is the percentage rate of a heroin addict staying clean?
2% of recovering heroin addicts remain clean for at least 5 years.
How do you calculate the actual labor rate when the standard rate is not given?
The actual rate is the total dollars divided by total hours or pieces. The actual formula is not dependant on any standard rate. The rate variance, however, cannot be determined without the standard rate. The rate variance is the difference between actual rate and standard rate.
What is the simple definition of base rate?
Base rate is the rate of interest which is considered as a basis by commercial bank for their lending rate..
How do you convert annual interest rate to monthly?
Let i = annual rate of interest. Then i' = ((1+i )^(1/12))-1 Where i' = monthly rate of interest
