Multiplying different number formats in Excel

Question

I'm using an excel document to track my hours at work (this is my 3rd question about it)

I'm trying to figure out how to multiply a time (i.e. 62:05, which is how long I have worked for over 2 weeks), by my hourly rate (11$/hr) and get approximate gross earnings in this format: $667.43

my time format is [hh]:mm and the 11/hr format doesn't do anything other than the total being 29.0000382 something.

Answer 1

Consider this formula:

=A1*24*B1