Four Projects Must Be Completed, and Each of Four Employees

question 106

Essay

Four projects must be completed, and each of four employees will be assigned to work on exactly one of the four projects.The table below presents an estimate of the cost that each employee would incur if working on the respective projects.What is the minimum-cost assignment of workers to projects?

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Definitions:

Money-Market Securities

Short-term financial instruments, typically with high liquidity and low risk, used for borrowing and lending in the money market.

Current Assets

Assets likely to be converted into cash, sold, or consumed within one year or the business cycle, whichever is longer.

Statement Of Financial Position

A financial document that shows the assets, liabilities, and equity of a company at a particular point in time, also known as a balance sheet.

Fair Value

The price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants.