Suppose that the workers were paid 16 dollars per hour for work during the time period 9 am to 5 pm and were paid 24 dollars per hour for work during the rest of the day. What would the total personnel costs of the clean up have been under these conditions

$49,400 approximately

Explanation:

Since the curve repeats itself, we just have to find the areas under the curve for one day and then multiply by 2. I will calculate the areas using a personal approximation since the graph is not very exact.

Each 24 hour is divided into two periods:

during the whole 24 hours, 45 workers are cleaning, but during approximately 14 hours, there is a peak which forms a triangle = 14 x 10 x 1/2 = 70 workers in total. Of those 70 workers, only a small portion are working during regular hours (9-5) and they are = 2 x 5 x 1/2 = 2.5 workers (the graph is not very exact).

So in both days, the number of workers working during regular hours = [(45 x 8) + 2.5] x 2 days = 725 working hours.

the total labor hours of overtime during the two days are = {[(45 x 24) + 70] x 2} - 725 hours = 1,575 hours

so the total personnel costs are:

$3.48

Explanation:

Net income ÷Shares of common stock outstanding + Preferred stock convertible shares of common stock.

Net income 6,800,000

Shares of common stock outstanding 1,200,000

Preferred stock convertible 750,000

Hence:

$6,800,000/ ($1,200,000 + $750,000)

=$6,800,000/$1,950,000

=$3.48

Therefore the diluted earnings per share for 2021 is $3.48