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Need formula to calculate payroll benefit per hour, max 40?

Need formula to calculate payroll benefit per hour, max 40?

Need formula to calculate payroll benefit per hour, max 40?

(OP)
I am setting up payroll in Peachtree.  But I am having difficulty setting up a formula that will calculate a benefit paid by the employer that automatically calculates on the basis of hours worked.  The company pays regular hours and overtime.  It also pays a pension benefit of $3.15 per hour not to exceed 40 hours.  Thus, I want the benefit to calculate on the ER side, and post to the general ledger (expense and accrual accounts).  But, I need the formula to enter in the Tax Tables, Company. Can anyone help me.  Would appreciate.

RE: Need formula to calculate payroll benefit per hour, max 40?

For the Benefit, try this:
ANSWER=(regular + overtime)* 1.15 "where 1.15 is the benefit amount per hour worked"

For the pension benefit, try this:
LIMIT=40.00;
A=(regular+overtime); "where regular and overtime are your hourly payroll field names"
B=(A-LIMIT);
C=(A*3.15);
D=(A-B)*3.15;
E=IF(A)<=LIMIT,C,D);
ANSWER=E

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