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Piece Rate Calculator

Formula

The formula to calculate the Piece Rate is:

$PIR = \frac{PP}{HW}$

Where:

$PIR$ is the Piece Rate ($/hr).
$PP$ is the total piece pay ($).
$HW$ is the total number of hours worked (hrs).

What is Piece Rate?

Piece Rate is a method of payment where workers are paid a fixed rate for each unit they produce or action they perform. This calculation helps determine the hourly rate based on total earnings and hours worked.

Example Calculation

Consider an example where:

Total Piece Pay (PP): $500
Total Hours Worked (HW): 25 hrs

Using the formula to calculate the Piece Rate:

$PIR = \frac{500}{25} = 20 \text{ per hour}$

This means that the piece rate for this example is $20 per hour.