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A company is beginning a project and needs to staff it with employees. They have three choices: Hire only full-time employees, hire only part-time employees,
A company is beginning a project and needs to staff it with employees. They have three choices: Hire only full-time employees, hire only part-time employees, or hire a mixture of both. The project requires 120,000 work hours and must be completed within 6 weeks. Full-time employees work 40 hours per week. Part-time employees work 20 hours per week. Both employee types perform the same tasks. Full-time earn $20 per hour, and part-time earn $12. Ignoring benefits, answer the following, keeping in mind that fulltime can work 40 hours X 6 weeks, and parttime can work 20 hours X 6 weeks. No overtime is allowed! How many full-time employees are required to complete the project on time? What would be the total cost of wages? How many part-time employees are required to complete the project on time? What would be the total cost of wages? Assume you have already hired 200 full-time employees and you will hire part-time employees for the remainder of the work: How many part-time workers should you hire? What is the total cost of the wages for the project? What other factors might the company consider when making this decision? (1 to 2 sentences)
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