Did I do this question correctly? If not please show where I went wrong and how to fix it.A company is taking bids on four construction jobs. Three contractors have placed bids on the jobs. Their bids (in thousands of dollars) are given in the file P05_52.xlsx. (A blank indicates that the contractor did not bid on the given job.) Contractor 2 can do only one job, but contractors 1 and 3 can each do up to two jobs. Determine the minimum cost assignment of contractors to jobs(Note that the data from P05_52.xlsx is already in the excel sheet (B5:E7). Get Data (PowerQuery)11 Contractor 112 Contractor 213 Contractor 314 Total15Data fromPicture-xv fx25262728293023 Bids on contracts (in $1000s) (large45 Contractor 16Contractor 27Contractor 389 Assignment of contractors to jobs1016 Required1718 Total cost ($1000s)1920212223244ÞPointRemementPlannin it vlevP5-43AVM9DP5-46RefreshAllv54471=SUM(B11:B13)Queries & ConnectionsPropertiesEdit LinksSTS_1OBi=SUMPRODUCT(B5:E7,B11:E13)P5-52Job 1Job 1JUN27+=47 451ReviewKule Anderson SE/UCLAStocksCJob 2Job 2View Solver Table for Mac Tell me21 YSortFilter1484652GeographyDJob 3Job 3524655=SUM(C11:C13) =SUM(D11:D13) =SUM(E11:E13)1ROUND2EJJob 4Job 4FClearReapplyAdvancedTotal=SUM(B11:E11)=SUM(B12:E12)=SUM(B13:E13)MaxG<= 2<= 1<= 2Set Objective:O MinTo:By Changing Variable Cells:$B$11:$E$131Text to SColumnsSBS18Solver ParametersSubject to the Constraints:SBS14:SES 14 = $B$16:SES16$B$5:$E$7>= $B$11:SES13$F$11:$F$13 <= SHS11:SHS13HMaxValue Of:Make Unconstrained Variables Non-NegativeSelect a Solving Method: Simplex LP▼0EESWhat-ifAnalysis1AddChangeDeleteReset AllLoad/SaveOptions A1 Bidding on contracts2455 AWN4fxB262728Contractor 16 Contractor 27 Contractor 389 Assignment of contractors to jobs10Job 111 Contractor 112 Contractor 213 Contractor 314 Total1516 Required1718 Total cost ($10001920212223242547оон11=3 Bids on contracts (in $1000s) (large values mean contractor didn't bid for that job)Job 1Job 2Job 4545246551186C4745Job 21РIPPOON01DJob 3484652Job 310HOOL011=Job 4EOHO1101=0TimeReferenceFTotal1 <=1 <=2 <=Math &TrigG HMax212MoreFunctions1JUse in FormulaNameManager Create from SelecKL

Job costing is a accounting method to account for those firms which perform various jobs in the same…

Answered: A company is taking bids on four…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Did I do this question correctly? If not please show where I went wrong and how to fix it.

A company is taking bids on four construction jobs. Three contractors have placed bids on the jobs. Their bids (in thousands of dollars) are given in the file P05_52.xlsx. (A blank indicates that the contractor did not bid on the given job.) Contractor 2 can do only one job, but contractors 1 and 3 can each do up to two jobs. Determine the minimum cost assignment of contractors to jobs

(Note that the data from P05_52.xlsx is already in the excel sheet (B5:E7).

Get Data (Power
Query)
11 Contractor 1
12 Contractor 2
13 Contractor 3
14 Total
15
Data from
Picture
-xv fx
25
26
27
28
29
30
2
3 Bids on contracts (in $1000s) (large
4
5 Contractor 1
6
Contractor 2
7
Contractor 3
8
9 Assignment of contractors to jobs
10
16 Required
17
18 Total cost ($1000s)
19
20
21
22
23
24
4
Þ
Point
Remement
Plannin it vlev
P5-43
A
V
M9D
P5-46
Refresh
All
v
54
47
1
=SUM(B11:B13)
Queries & Connections
Properties
Edit Links
STS_1
O
B
i=SUMPRODUCT(B5:E7,B11:E13)
P5-52
Job 1
Job 1
JUN
27
+
=
47 45
1
Review
Kule Anderson SE/UCLA
Stocks
C
Job 2
Job 2
View Solver Table for Mac Tell me
21 Y
Sort
Filter
1
48
46
52
Geography
D
Job 3
Job 3
52
46
55
=SUM(C11:C13) =SUM(D11:D13) =SUM(E11:E13)
1
ROUND2
E
J
Job 4
Job 4
F
Clear
Reapply
Advanced
Total
=SUM(B11:E11)
=SUM(B12:E12)
=SUM(B13:E13)
Max
G
<= 2
<= 1
<= 2
Set Objective:
O Min
To:
By Changing Variable Cells:
$B$11:$E$13
1
Text to S
Columns
SBS18
Solver Parameters
Subject to the Constraints:
SBS14:SES 14 = $B$16:SES16
$B$5:$E$7>= $B$11:SES13
$F$11:$F$13 <= SHS11:SHS13
H
Max
Value Of:
Make Unconstrained Variables Non-Negative
Select a Solving Method: Simplex LP
▼
0
EES
What-if
Analysis
1
Add
Change
Delete
Reset All
Load/Save
Options

A
1 Bidding on contracts
2
455 AWN
4
fx
B
26
27
28
Contractor 1
6 Contractor 2
7 Contractor 3
8
9 Assignment of contractors to jobs
10
Job 1
11 Contractor 1
12 Contractor 2
13 Contractor 3
14 Total
15
16 Required
17
18 Total cost ($1000
19
20
21
22
23
24
25
47
оон
1
1
=
3 Bids on contracts (in $1000s) (large values mean contractor didn't bid for that job)
Job 1
Job 2
Job 4
54
52
46
55
1
186
C
47
45
Job 2
1
РIPPOON
0
1
D
Job 3
48
46
52
Job 3
1
0
HOOL
0
1
1
=
Job 4
E
OHO
1
1
0
1
=
0
Time
Reference
F
Total
1 <=
1 <=
2 <=
Math &
Trig
G H
Max
2
1
2
More
Functions
1
J
Use in Formula
Name
Manager Create from Selec
K
L

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