Answer:
Overtime rate is 1.5. Overtime pay is standard pay (per hour) x number of overtime hours x 1.5. Overtime pay rate is then the standard pay (hourly wage) x 1.5.
Example: If an employee has an 8-hour working period per day, with standard pay is $10.00 per hour, and 2 hours of overtime (for a total of 10 hours in a single day), then the overtime pay calculates to $30.00. The overtime pay is in addition to standard pay of $80.00 for the first eight (8) hours worked for that day, yielding a pre-tax wage total of $110.00 for the day.