Keep Solution Simplified and organized A building contractor is faced with the problems of possibly paying liquidated damages of $20,000.00per day for the delay in the completion of work in accordance with the contract.The facts are as followsa. number of days left in the contract time is 30 daysb. at present the working force are;40 skilled workers with a daily wage of $700.00/day/worker20 unskilled workers with a daily wage of P520.00/day/workerThis is on an 8-hr day work. If he maintains the present number of men, he will finish the work in 50days; overtime rate is 25% more than regular rate.Analyse/Answer the following cases:a. If he allows the present working force to work overtime for 2 hours a day, in how many days will he finishthe work. How much are the savings or the loss?b. If the contractor puts additional men maintaining the ratio of two skilled workers to one unskilled in orderto finish the work on time, how many workers will he add? No overtime work in this case.c. Should the contractor allow overtime work for two hours a day, how many men will he add in order tofinish the work on time? How much will he save or loss?

Time to complete the contract = 30 days Current workforce = 40 skilled workers and 20 unskilled…

Answered: A building contractor is faced with the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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