Thank you for posting this. I know it was posted quite sometime ago. Hey, it still helped me a lot. Thank you.
In converting the time to readable format, you might also want to try this:
I4 is cell being converted
=I4/1440
e.g. I4 = 915
915/1440 = 0.63542
*Change to format to time, it should show 3:15 PM.
time conversion
=TIME((I4/60),((I4/60)-(INT(I4/60)))*60,0)