Four Employees Must Be Assigned to Four Projects

question 21

Essay

Four employees must be assigned to four projects. Only one employee can be assigned to each project, and all projects must be completed. The cost of each employee completing each project is shown below. Determine which employee should be assigned to which project to minimize total project completion cost.
Compute the total project completion cost. $$\begin{array} { c r r r r } &&&\text { Project }\\\text { Employee } & 1 & { 2 } & { 3 } & 4 \\\hline \text { Al } & \$ 300 & \$ 325 & \$ 500 & \$ 350 \\\text { Ben } & 400 & 525 & 575 & 600 \\\text { Cal } & 350 & 400 & 600 & 500 \\\text { Dan } & 400 & 350 & 450 & 450 \\\hline\end{array}$$

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Definitions:

Financial Statements

Financial statements are formal records of the financial activities and position of a business, person, or entity, providing an overview of a financial situation over a specific period.

Physical Existence

The actual, tangible presence of an asset, as opposed to intangible assets or rights.

External Audit

An independent examination of financial records and statements, conducted by an outside firm, to ensure accuracy and compliance with accounting standards.

Financial Statements

Official documentation detailing the monetary transactions and financial standing of a company, person, or different organization.