How do I calculate the hourly rate to be paid for employees who are salaried?

The rate to be compensated is determined by dividing the wages the employee made in the previous pay cycle by the total hours worked by the employee. For determining total number of hours worked during the previous pay period, employees who are exempt from overtime requirements under 29 U.S.C. § 213(a)(1), the Fair Labor Standards Act, shall be assumed to work 40 hours in each work week unless their normal work week is less than 40 hours, in which case “earned paid sick time” shall accrue and the same hourly rate shall be calculated based on the employee’s normal work week.