I work several peice work employees who make between $75,000 and $125,000 a year. The way to figure it is you take what you are willing to pay per foot or peice x the average daily production x 6 days. this gets your average weekly gross.
GO GET YOU A SIX PACK OF BEER.
Divide your weekly gross by 60hrs. this gets you your hourly rate
Ex. 3000.00 /60=$50 an hour, you had 20hrs. of overtime so take onehalf your hourly rate(50/2=$25)x20hrs=$500 for a total gross
for the week of $3500.00 dollars.
Now for the tricky part and the meat of this post. Divide the 3500 by your weekly production this gets you real footage or peice rate. Now you have to play around a little bit reduce what you were going to pay at frist by the overage amount of the real
rate and run this again. It may take a couple of times but you will come out with a rate that helps the go-getters and penalizes the
sluff-offs while keeping you legal and letting you pay per ft. what
you bid your job to pay.
