I earned $800 and worked 50 hours in a week. Does that mean that my overtime rate is $24.00 (1.5 x $16.00 an hour)?
Not necessarily. If your employer already paid you $16.00 an hour for each hour that you worked, then it would only owe your for the additional $8.00 for the 10 overtime hours, which is the difference between the regular rate and the overtime rate. That is, since the regular rate of pay is based on the total hours that you work, including your overtime hours, you already received the regular rate for the overtime hours to begin with. Thus, you are owed only the additional “.5” part of the “1.5” overtime rate.