(1) Section 39-3-405 MCA requires the payment of overtime compensation for hours worked in excess of the applicable maximum hours standard at a rate not less than one and one-half times the regular rate. The overtime rate, like the regular rate, is a rate per hour. Where employees are paid on some basis other than an hourly rate, the regular hourly rate is derived, as previously explained, by dividing the total compensation (except statutory exclusions) by the total hours of work for which the payment is made. To qualify as an overtime premium, the extra compensation for overtime hours must be paid pursuant to a premium rate which is likewise a rate per hour.
(2) To qualify under section 39-3-405 MCA, the overtime rate may not be less than one and one-half times the bona fide rate established in good faith for like work performed during nonovertime hours. Thus, it may not be less than time and one-half but it may be more. It may be a standard multiple greater than one and one-half (for example, double time) ; or it may be a fixed sum of money per hour which is, as an arithmetical fact, at least one and one-half times the nonovertime rate (for example, if the nonovertime rate is $2 per hour, the overtime rate may not be less than $3 but may be set at a higher arbitrary figure such as $3.20 per hour) .