How the overtime calculation works
The calculator first divides your hours into regular and overtime buckets using the threshold you enter. Regular pay is regular hours multiplied by the hourly wage. Overtime pay is overtime hours multiplied by the hourly wage and the overtime multiplier. With 47.5 hours at $24.50 per hour, a 40-hour threshold, and a 1.5× multiplier, the first 40 hours are paid at the base rate and the remaining 7.5 hours are paid at the overtime rate. That makes it easy to see exactly where the premium pay comes from.