As a teacher, I get paid for 1265 directed hours a week, but marking isn't even included in that, it's just the additional duties that are expected of me to complete my job.
I'm assuming that figure 1265 is your total annual hours?
At my university, I'm workload is calculated on the basis of 1650 hours per annum. That includes teaching, research and administrative duties.
My contract is a standard 'Teaching & research' contract, in which I'm supposed to spend at least a third of my time undertaking original research. I have a monetary target each year for achieving external research grant funds.
I generally work around 50-60 hours a week and very rarely can I use up all my annual leave ... So academics on permanent contracts have to balance multiple roles & demands.
Those on hourly paid contracts are expected to deliver prepared teaching and teaching, and marking, on a paid by the hour basis. However, the payment isn't "Bill us for the time it takes you." VLs are paid a set amount.
At my place, VLs are paid for 3 hours, for every 1 hour face to face. So a standard taught module of 3 hours per week over 12 weeks, would be an allowance of hours of 108 hours (36 face to face + 72 prep/marking), plus maybe an hour a fortnight as an office hour for student consultations. But if you're marking 20 x 3,000 word essays, with a couple of paragraphs of composed & constructive feedback expected, that will take waaaaay more than the time you're paid for. I'm a very experienced academic, but a 3,000 word essay generally takes me around 30 minutes to mark properly.