Formula Variables:
$ = Dollar Amount
Hrs = Hours
Min = Minutes
Take the hour and minutes then divide by 60. Then divide the $ by that amount.
Example:
$40 in 2 hours and 15 minutes – 15 mins/60 = .25
(2Hr + .25Min = 2.25)
$40/2.25 = $17.77 per hour
You can also convert everything into minutes.
Example:
2Hrs and 15mins = 135 mins
$40/135 mins = 0.296 cents per minute
Multiply 0.296 by 60 to get the hourly rate
0.296 x 60 = $17.76